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New Fleet Advantage research shows generative AI adoption has exploded among private fleets. But poor data integration and weak ROI tracking are preventing fleets from unlocking AI’s full operational and financial value.
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ANAHEIM -- The trucking industry is looking at a severe capacity crunch in coming years with a variety of factors contributing to the situation, according to Bob Costello, chief economist of the American Trucking Associations.
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The third-quarter Transport Capital Partners survey reveals more carriers expecting to see volumes and rates grow over the coming months. In this quarter’s survey, more carriers are expressing optimism for increases in volumes and rates. Slow, steady growth in the economy has led the freight market into positive territory. And carriers are sharing their expectations for improved results.
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“I think it’s pretty astounding this economy continues to grow when you think about the shocks it’s taken," said Bob Costello, chief economist & vice president, American Trucking Associations, speaking at TMW Systems’ Transforum user conference in Anaheim, Calif., Tuesday.
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Overall freight revenue will grow by 63.6% to $1.3 trillion annually in 2024 and trucking will see its share of those revenues rise to 81% from 80.7% in 2012.
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The parent of several trucking operations, YRC Worldwide, has announced CEO James Welch has assumed the responsibilities as president of the company’s national less-than-truckload service provider YRC Freight. He succeeds Jeff Rogers, who left the company for undisclosed reasons.
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A new report shows truck cargo theft during the most recent three-month period increased in the United States, while the value of each incident moved higher by nearly double-digits.
Read More →Canadian-based Vitran Corporation has announced it has entered into an agreement to sell its U.S. less-than-truckload business.
Read More →Volvo’s New River Valley assembly plant in Dublin, Va. has achieved zero landfill status at its truck manufacturing operations. Waste generated by the facility, which manufactures all Volvo trucks sold in North America, is now recycled, composted or converted to electricity.
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Truckstop operator WilcoHess will pay $215,000 to settle a class sexual harassment lawsuit filed by the U.S. Equal Employment Opportunity Commission.
Read More →Every trailer category posted month-over-month order gains in August, according to the most recent update on industry performance reported in the State of the Industry: U.S. Trailers published by ACT Research Co.
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