Critical Issues Identified by the Industry
The American Transportation Research Institute (ATRI) recently released their report, “Critical Issues In the Trucking Industry – 2022”. As stated in the report, a list of issues were first identified by stakeholders with ties to the motor carrier industry and from there ATRI conducted a survey distribution to over 25,000 contacts. As you consider this list it’s important to note that survey respondents included carrier executives, personnel, drivers and others with ties to the industry. Depending on the survey respondent, their top issues likely varied compared to others. Here are the top ten issues in order identified by the survey respondents.
- Fuel prices
- Driver shortage
- Truck parking
- Driver compensation
- Economy
- Detention/Delay at Customer Facilities
- Driver Retention
- Compliance, Safety, Accountability (CSA)
- Speed Limiters
- Lawsuit Abuse Reform
In response to the top ten issues, ATRI’s survey respondents also ranked proposed strategies to address them. For example, to combat the driver shortage concern, ATRI’s respondents ranked supporting initiatives which target students and young adults as the best strategy. The second best strategy by rank was to work with insurers to expand coverage for younger drivers. The Safe Driver Apprenticeship Program which allows up to 3,000 young adults 18-20 years old to drive interstate has faced difficulty in participation due to the cost of insuring potential participants.
You can download a copy of ATRI’s report by following this link. Stepping back from the daily work and thinking about the issues facing the industry and responding to those when possible is a critical piece of leading a business through tough times or taking a successful business to the next level.
Sources: truckingresearch.org, American Transportation Research Institute report titled “Critical Issues in the Trucking Industry – 2022”
Nathan is a CPA and has more than ten years of experience providing tax planning, consulting and compliance services to a number of privately held businesses and individuals in a variety of industries, with a special focus on the transportation and logistics industry. He actively communicates with clients and seeks ways to align their individual and business goals with available tax strategies to allow them to make well-informed decisions.
Comments are closed.