How Carriers Are Getting a Financial Jump on 2021

The trucking industry is at a pivotal point, and carriers are looking ahead to make 2021 a very strong year. However, taking the lessons learned from previous years, carriers need to form a solid strategy to get a financial jump on the upcoming year.

Eager Spending Vs. Wise Spending

2018 seemed like an incredibly strong year for carriers. Demand for capacity was high, shippers were paying higher rates, and the threat of high taxes on overseas products meant higher production and commerce domestically. Looking to 2019, carriers were making plans for growth, buying new equipment, hiring new drivers, and increasing their capacity to meet the demand from shippers. Behind the scenes, the threat of tariffs fell flat as American businesses with overseas plants relocated to keep prices low for consumers. This resulted in overspending by carriers leading into the following year, which had dire repercussions that stretched into 2020. It was a hard lesson in eager spending. (Click Here To Learn More)