The Cass Truckload Linehaul Index is a measure of market fluctuations in per-mile truckload linehaul rates, independent of additional cost components such as fuel and accessorials. The decline that started in 2019 has seen a slight uptick starting in mid-2020.
Spot rates were all about the old adage “what goes up must come down.” After strong growth in 2017 and 2018, rates in 2019 were sharply negative through mid-year before firming.
U.S. business logistics costs, as calculated in CSCMP’s 2020 State of Logistics Report, sponsored by Penske and authored by A.T. Kearney, rose 0.6% in 2019 to reach $1.63 trillion, or 7.6% of the $21.43 trillion GDP, a 2.3% growth over 2018. The logistics industry grew as well, seeing $1.63 billion in expenditures. With 2018's fast GDP growth and capacity shortages leading to logistic costs being the highest percentage of GDP since 2018, 2019 was a return to normal.
By Heavy Duty Trucking
As of August 1, 2021, all truck classes from pickups to heavy-duty class 8 units experienced an decrease in wholesale values over the prior month. Medium-duty Class 6 units experienced the highest decrease month-over-month.
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As of July 1, 2021, all truck classes from medium-duty Class 4 heavy-duty class 8 units experienced an increase in wholesale values over the prior month. Pickup trucks were the only class to see a decrease in wholesale values.
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As of June 1, 2021, all truck classes from pickups through heavy-duty class 8 units experienced a decrease in wholesale values over the prior month.
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As of May 1, 2021, all truck classes from pickups through heavy-duty class 8 units experienced an increase in wholesale values over the prior month
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As of April 1, 2021, pickup trucks and Class 4-6 medium-duty units experienced an increase in wholesale values over the prior month, but heavy-duty Class 7-8 trucks experienced a small dip.
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Although labor issues remain a significant challenge for respondents in the National Private Truck Council's annual survey, they continued to report retention and turnover performance far better than their for-hire colleagues.
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Heavy-duty truck driver and tractor-trailer driver wages and employment rates vary greatly by state.
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As of March. 1, 2021, all truck classes experienced decreases in wholesale values over the past month.
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Looking at the average price of the benchmark sleeper tractor sold through the two largest nationwide no-reserve auction companies, Class 8 auction volume increased in June.
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While both tractor and trailer sales saw a surge in October of 2019, those numbers quickly started dropping, with a COVID-19-related low in April 2020 of 1,680 tractors and 209 trailers.
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As of Feb. 1, 2021, all truck classes experienced decreases in wholesale values over the past month.
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EPA SmartWay data from 2018 shows Class 7, 8A, and 8B mileage-weighted miles per gallon data for each truck category for SmartWay program participants.
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