Supply chain leaders and their teams are likely aware that the current surplus of trucking capacity and low rejection rates won’t last forever.
In fact, the odds for a cycle reversal – and a growing number of carrier closures – are increasing, according to a report from Transfix’s Freight Market Intelligence team.
Additional analysis on FMCSA and DOT data shows that in the first quarter of 2023, nearly 9,000 interstate trucking fleets left the industry.
As trucking rates continue to find lows, and other macroeconomic factors make it difficult for trucking companies – especially newer ones – to survive these conditions and establish solid relationships with shippers, shippers need to get ready for a more dramatic carrier purge.
