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Report: US Truckers Generated Record $700B in Revenue Last Year

1 min read

The Wall Street Journal reports today on this new report from the American Trucking Associations that says the U.S. trucking industry generated a record $700.4 billion in revenue.

The Journal report also says that last year growth actually marked a slowdown, despite the record:

Trucking revenue rose 2.6% last year, according to the American Trucking Associations’ “American Trucking Trends” report released Monday. 

The growth marked a slowdown from the previous year, when trucking revenue expanded 6.2%, but marked the first time industry-wide revenue exceeded $700 billion.

“Last year, we saw freight volumes grow significantly,” ATA Chief Economist Bob Costello said in a news release. “Increases in freight, combined with continued tight capacity helped drive revenues and coupled with lower fuel prices, we saw motor carriers go on a buying spree for new trucks as they replaced older equipment.”

Among those companies replacing older equipment: USA Truck Inc. of Van Buren, which began receiving 150 new tractors at the end of 2013, following previous orders of 250 new tractors and 400 new trailers earlier in the year.

The ATA noted some other trends from 2014:

  • The $700.4 billion in revenue accounted for 80.3 percent of all freight transportation spending.
  • Trucking employed more than 7 million people, including 3.4 million drivers.
  • Combination trucks logged 168.4 billion miles in 2013, or an average of 69,000 per truck.
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