Increased demand and lower prices for diesel fuel helped the American trucking industry set a new revenue record last year.
According to a report by the American Trucking Associations (ATA), the trucking industry generated $700.4 billion, making 2014 the first year in history the industry topped $700 billion in total revenue.
“Last year, we saw freight volumes grow significantly,” said ATA Chief Economist Bob Costello. “Increases in freight, combined with continued tight capacity helped drive revenues and coupled with lower fuel prices, we saw motor carriers go on a buying spree for new trucks as they replaced older equipment.”
- In 2014, trucks moved 9.96 billion tons, or 68.8%, of all domestic freight.
- The $700.4 billion in revenue accounted for 80.3% of all freight transportation spending.
- Trucking employed more than 7 million people, including 3.4 million drivers.
- Combination trucks logged 168.4 billion miles in 2013, or an average of 69,000 per truck.
- Since Deregulation, the number of registered motor carriers has grown by 68 times to more than 1.3 million carriers.
- Commercial trucks paid $16.5 billion in federal highway user fees in 2013.