Trucking News

Noteworthy news bullets we thought you’d enjoy

•  Class 8 Sales in January plummet compared with January of 2021 (source: Transport Topics)
  • Class 8 U.S. retail sales in January were 21,300 compared with 42,307 a year earlier.
• Many experts believe the dip is a result of more discipline by the truck makers not accepting orders they could not fulfill.

• January freight shipment and expenditure readings feel impact of Omicron variant, says Cass (source: Logistics Management)
  • U.S. freight volumes reeled in January from the surge in Omicron cases, dropping 7.4% from December.
• Tim Denoyer, ACT Research vice president wrote, “while these effects are lingering in February, they are beginning to fade and we expect a rebound in the coming months as case counts fall sharply.

• Diesel Tops $4 a Gallon with $0.068 hike (source: Transport Topics)
  • Fuel costs $1.143 more for a gallon than it did this time in 2021.

• Receding imports to ease US port congestion, but not until late 2022 (source: The Journal of Commerce)
  • It is believed that only macro trends will make a meaningful difference in easing congestion in 2022.
  • Sustained moderation in volumes
  • Easing in the massive dislocation/congestion of ocean assets
  • Reduction in the negative impact of COVID on the workforce.

• Product returns rate jumps to 16% of total U.S. retail sales
  • Retail returns hit 16.6% of total U.S. retail sales in 2021 – an increase of 10.6% from 2020.
  • E-commerce returns were 20.8% of total ecommerce retail sales, which stayed flat from 2020. E-commerce sales accounted for less than a quarter of total retail sales in 2021.

• Manufacturing starts 2022 with continued growth, reports ISM (source: Logistics Management)
  • New orders, commonly referred to as the engine that drives manufacturing, slipped 3.1% from December to 57.9, representing growth for the 20^th consecutive month.
  • January was only the second time in the last 19 months in which new orders did not eclipse a reading of 60.

• Yellow adds driver schools, eyes training 1,000 drivers in 2022 (source: Freight Waves)
  • The tuition-free centers provide in-class training and behind-the-wheel instruction.
  • After the course, the driver candidates will be ready for CDL testing. Once the test is passed, trainees will complete a Department of Labor certified apprenticeship with the company’s veteran drivers, eventually joining Yellow’s fleet as a professional driver.

• Early estimates: US ecommerce grows 14.2% in 2021 (source: Digital Commerce 360)
  • Consumers spent 871.03 billion online with U.S. merchants in 2021, up 14.2% from the $762.68 billion in 2020.
  • It’s noteworthy that the industry experienced further gains in 2021 after seeing a 31.8% spike in 2020.