The trucking industry is turning a corner after a prolonged freight recession that succeeded the Covid boom in transportation rate and services, according to logistics executives.
Data from Motive, which tracks trucking visits to North American distribution facilities for the top five retailers, shows volume up 30% year-over-year in June.
“We now have fewer trucks on the road because of the bankruptcies and capacity exits,” Hamish Woodrow, Head of Strategic Analytics at Motive said. “We will exit the freight recession in Q3 and rates will go up in the back end of the third quarter.”