Trucking Sector Optimism for 2015 Key Finding From GE Capital Survey
By Dan Boaz
As we enter the final weeks of the year and look ahead to 2015 its very encouraging for the nationwide trucking industry to see the latest quarterly survey that has been conducted by GE Capital that targets middle-market trucking firms. A sense of cautious optimism seems to be the prevailing mood within the national trucking sector.
According to the study 81 percent of the nationwide trucking companies surveyed are either somewhat or very confident about the strength of the economies that their businesses serve. These hopes would seemingly be reinforced by the extended period of increased freight volumes that have been witnessed this year. The new year would definitely be kick started by having a far less severe winter than we saw 12 months ago due to the serious transportation impacts caused at the time.
This optimism is demonstrated by the fact that almost half of those surveyed anticipate adding more new equipment in 2015 than they've done during the last 12 months and essentially half of those surveyed are buoyant about the trucking sector expanding next year. The survey also revealed that some 35 percent of trucking firms expect to increase capital expenditure in 2015.
Perhaps the most encouraging data was that 56 percent anticipate overall margin growth next year whereas that figure was resting at only 40 percent earlier this year. Improved cost management, heightened focus on regional freight and an expectant rate increase were also elements revealed within the report.
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