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REPORT * USA - Trucking failures continue at record pace
The economic downward spiral has taken a deeper toll on the trucking industry than ever before with a record number of companies failing in the first three quarters of 2008
Nashville,TN,USA -Land Line Magazine -Oct. 28, 2008: -- ... Donald Broughton, a longtime trucking analyst and managing director of Avondale Partners LLC, reported that 785 companies with approximately 39,000 trucks, or 2.0 percent of the nation’s over-the-road heavy-duty trucks, closed their doors in the third quarter... That brings the total number of trucks pulled off the road in 2008 to more than 127,000 trucks or 6.5 percent of the trucks in the industry... If the pace continues through the fourth quarter, Broughton says 2008 will be “the worst year to be a marginal trucker”... But, he acknowledges, it could be the “best year to have survived”... A total of 2,690 companies with five or more trucks went out of business between January and September. Broughton notes that more companies failed in the 2000-2001 trucking downturn, but they were smaller companies than are failing in 2008... In 2000-2001, the average size of companies that failed was companies with between 20 and 35 trucks. This year, it’s companies with more than 45 trucks...
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