Shipping and Logistics
April 26, 2020
Trucking Braces for Worst Second Quarter on Record
Written by Sandy Williams
The U.S. trucking industry could be facing the worst second quarter on record, says FTR after analysis of the latest Trucking Conditions Index. Steep drops in freight volume and declining utilization rates due to the COVID-19 pandemic will create challenging conditions through this year and into next.
“Although trucking conditions might prove to be comparable to the worst of the Great Recession, the trucking industry – like the rest of the economy – has never seen such an abrupt deterioration,” said Avery Vise, vice president of trucking at FTR. “The need to restock grocery shelves provided a brief boost for some segments, but the economic shutdown now has taken a toll on the whole industry. While an economic restart likely will begin in May, the damage wrought during this period will weaken trucking conditions for months to come.”
