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How is the Trucking Industry Today? [Video]

February 9th, 2024

Lars Offerdahl

Lars Offerdahl

Lars has been in the trucking industry his whole working life. He started working in the shop when he was just 16 years old. Lars spent about 10 years in operations before moving to driver recruiting. He spent five years in recruiting before joining the ATS team as the vice president of driver recruiting. He currently serves as the vice president of van operations. No day is ever the same in the trucking industry and Lars enjoys the challenge that presents.

The trucking industry has undoubtedly faced its fair share of challenges in 2023, with drops in load counts, margins, and profits. The decrease in overall load availability and the plummeting freight rates have created a landscape that truck drivers and companies have had to navigate carefully. However, as we look ahead to 2024, there is a glimmer of hope on the horizon. Economists predict a potential 10% rate increase by year-end, offering a ray of light for a gradual market turnaround. This news brings a sense of optimism to the industry, as truck drivers and companies can anticipate better opportunities and improved profitability in the coming year. Despite the hardships faced in 2023, the trucking industry is resilient, and with this positive outlook, it is poised to overcome the challenges and embrace the opportunities that lie ahead in 2024.