Trucking industry expected to grow, spend more in 2006

FCC Equipment Financing Inc, a subsidiary of Caterpillar Financial Services Corp, has released a report compiling viewpoints on the status of the trucking industry and future forecasts, along with customer insights.

The report, titled North American On-Highway Market Issues: Current Status and Future Outlook, provides overviews of the North American truck market broken out by heavy-duty and mid-range sectors, along with an On-Highway finance market overview. Highlights of this survey include:

  • More than 95% said business will be as good or better in 2006 than 2005.

  • More than 50% said the volume of freight they planned to haul increased in 2005 over 2004.

  • 81% indicated their capital budgets would be the same or better, with more than 25% saying new equipment budgets will increase for 2006.

  • 75% expect truck pricing to increase in 2006 versus 2005, with 25% saying the increase would be significant.

  • 62% said trailer pricing would increase in 2006 versus 2005, but only 12% thought the increase would be significant.

  • 82 percent of fleets surveyed stated they are implementing fuel surcharges to offset the rising cost of diesel fuel.

  • Fleets said the most important cost factors impacting their businesses were fuel costs (64%) and driver costs (23%).

Access www.fccequipmentfinancing.com for more details.

TAGS: Carriers
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