Full Title: An Analysis of the Operational Costs of Trucking: 2023 Update
Author(s): Alex Leslie and Dan Murray
Publisher(s): American Transportation Research Institute
Publication Date: June 16, 2023
Full Text: Download Resource
Description (excerpt):
Since 2008, the American Transportation Research Institute (ATRI) has published An Analysis of the Operational Costs of Trucking in response to the need for accurate cost data. The research was originally identified as an industry priority by ATRI’s Research Advisory Committee (RAC), and each annual report provides new and expanded data on trucking industry operations and cost metrics.
After a strong 2021, the trucking industry entered a weaker economy in 2022. GDP declined as inflation soared during the first two quarters of 2022, and trucking rates fell throughout the year. Federal and industry sources reported rising costs in key areas. Fuel costs started spiking after Russia invaded Ukraine in February 2022. Truck purchase prices remained high even while availability improved, as did repair and maintenance costs. Though some costs like auto liability insurance premiums stabilized, others – like driver wages – continued to rise.