It’s no secret that the transportation industry is always changing and evolving. So what’s the one constant? The need for vehicles to deliver goods and supplies will never go away. This summer, fleet flexibility and quick adaptability can open new doors to navigate inflation and rising rate challenges.
As our Q3 Commercial Vehicle Rental Guide touched on, truckers can expect a rise in equipment costs, maintenance, and, as we’ve already seen at the pumps – gas prices. A big contrast to the unprecedented boom we saw last year to combat supply chain difficulties during the pandemic.
As the economy shows some signs of slowing in the coming months, it’s important to note that consumer spending is still above pre-pandemic levels. The thing to consider moving forward is where and when the shifts in surge will be. As inflation and higher interest rates affect demand across specific industries, remember that obstacles can be turned into opportunity.
Inflation has many effects on the overall economy and across many industries. It causes shifts in the consumption of products and services, which affects supply and demand. To provide some context, it has been reported that inflation rose to 9.1% in June, the highest rate in more than 40 years.
So how do we anticipate it to impact the trucking industry? The following are just a few examples of what to expect in the coming months with these new inflation highs:
Because of the inflationary trends we’ve seen across the U.S., this is where interest rates factor into the equation. As mentioned above, regarding the highest inflation the U.S. has seen in many years, we will likely see a Fed interest rate hike.
Here are some points on how these increases will influence truck purchasing in the near future:
For many, operating in a high-inflation environment like the one we're facing is new territory. Budgeting, fleet optimization, and generating revenue can become a challenge.
We can help your business be flexible as it looks to pivot and find ways to cover costs as the market tightens. Thousands across the nation have diversified their revenue streams and found success with COOP.
Our easy-to-use platform provides profitable solutions for idle vehicles, creates new connections if you need extra capacity, and offers a convenient way to quickly adapt to changes in the industry when you need it.
Looking for ways to maximize stops at the pump when hauling goods on commercial trailers? When transporting loads, every mile counts, and fuel costs can significantly impact the bottom line. Finding ways to improve fuel efficiency is crucial, which is where trailer skirts (edge skirts or trailer side skirts) come in. These aerodynamic panels attach to the underside of trailers, and though they seem small, they offer big benefits for trailers.
Need a hand with the heavy lifting? In the world of commercial trucking, efficiency is king. Whether you're hauling groceries, construction materials, or anything in between, time is money. That's where liftgates for trailers come in – they're game-changers for streamlining deliveries and keeping your business running smoothly. Choosing the right liftgate can make all the difference in productivity, so you'll want to make sure you are considering everything when renting trailers with liftgate options.
Chassis rentals offers flexibility, cost savings, and access to a variety of equipment options. Whether you are a seasoned logistics professional or new to the world of freight transportation, this article will cover all aspects of chassis trailer rental.
