A prolonged period of elevated freight rates pulled more players into the game, and the number of trucks that have entered the market is up 13% compared to last April.
"We're still adding capacity," DAT Principal Analyst Dean Croke said. "We've added capacity in the last year... The only thing that's stopped a far bigger implosion is the fact that large fleets are only getting two-thirds of the trucks they order. Can you imagine if we'd have been getting new trucks out of factories at the normal rate? We'd have had a repeat of 2019 without a doubt, where we saw record bankruptcies in Q2," he said.
"The fact we haven't been able to get trucks out of factors has probably been a blessing in disguise because it's moderated the supply."
In this week's 10-44, Jason and Matt talk with Croke and discuss what his he sees in store for freight markets, including his conservative take on a rate rebound during Roadcheck next week.
CCJ's 10-44 is a weekly video feature covering the latest in trucking news and trends, equipment and technology. Subscribe to our YouTube channel here.
