Like a bodybuilder preparing for competition, the U.S. trucking industry is getting stronger by the day, with companies making bold moves to meet growing demand.
Trucking companies are citing a drop in cancellations and an uptick in trailer backlogs as signs of growth in demand for their services.
Motor carriers are planning to buy more trailers in anticipation of continued demand at the beginning of the year, according to a recent report by CK Commercial Vehicle Research.
Carriers are also trying harder to retain and attract drivers. The more freight that they can move, the more they can maximize their profits.
Several major lines have announced pay increases for drivers over the last month. Others are hoping to appease drivers by switching from inconsistent mileage-based pay to hourly-based pay.
If demand continues at its current pace, domestic shippers could soon see higher premiums and widespread capacity shortages.