As a nation, we rely on the trucking industry for so many different things. The industry is constantly changing to adapt to the needs of our population, technology, the economy, and employment fluctuations. There are currently five major news pieces that are being explored; they include: the lack of drivers in the trucking industry, how the trucking industry propels our economy, investing in the trucking industry, the future of the trucking industry, and taxes for truckers.
There Aren’t Enough Truck Drivers
There is currently a lack of available drivers for the trucking industry. Customers all over the country have millions and millions of goods to deliver every day and rely on truckers to get their products from point A to point B. unfortunately, trucker pay have not adjusted with inflation. According to the NY Times, tractor-trailer drivers made less in 2013 than they did ten years ago. The American Trucking Association reported that there is a shortage of about 30,000 qualified drivers, which could increase to over 200,000 in the next ten years. This could really impact our nation’s delivery business and cause prices to increase.
The Trucking Industry Impacts Our Economy
According to American Trucking Trends, trucks moved 69.1 percent of all domestic freight tonnage in 2013, up from 68.5 percent in 2012. Additionally, the trucking industry paid over $37 billion in state and federal highway use fees. The robust trucking industry is also seeing changes due to technology that allows trucks to use less fuel, increased safety features, and save costs and time for the entire supply chain. Forbes reports that the industry as a whole is operating at or near capacity, illustrating how our country can rebound from recent tough economic times.
Investing in the Trucking Industry
The trucking industry is incredibly diverse and constantly changing. Freight trucking and truck manufacturing both play important roles in the final delivery of products that we constantly rely on. Investing in trucking companies and the components and services that allow trucks to operate is vital to the future of the industry. For example, diesel engines are primarily used in heavy vehicles like trucks. Additionally, trucking’s share in total freight tonnage will likely increase by 71.5 percent by 2025, which is why investing in trucking components, employees, and the overall business is incredibly important.
The Future of the Trucking Industry
As our country continues to rely on tractor-trailer truck drivers to transport and deliver our products across the country, it’s important to be familiar with the industry’s outlook. Choosing to work as a long-haul truck driver is a major decision because truckers are usually away from their home for days or weeks at a time, making time for family and friends difficult. A high school diploma and professional trucking driver education is usually required, along with a commercial driver’s license. Additionally, the job outlook is good. The industry is project to grow 11 percent between 2012 and 2022.
Taxes for Truckers
Recently, the IRS has reminded truck drivers and owners of heavy vehicles that their federal highway use tax is due at the beginning of September. This tax covers vehicles used on highways with a taxable gross weight of 55,000 pounds or more, usually including trucks and buses.
As the trucking industry continues to change and grow along with our economy, it’s important to remember how much we rely on truckers and their vehicles. Our changing population’s needs and demands are sure to impact the trucking industry in the future and increase our country’s need for more truckers.