'No profit right now': Trucking industry facing leaner times as consumer demand drops

  • 📰 SooToday
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 85%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

MONTREAL — For Jas Singh, the road to profit just keeps getting narrower. “It’s slow right now, not too many loads,' said the owner of JK Transport, a Brampton-based trucking company Singh launched 15 years ago.

“It’s slow right now, not too many loads," said the owner of JK Transport, a Brampton-based trucking company Singh launched 15 years ago.A new tractor now costs him $225,000, up from the $135,000 he paid in 2019, Singh said. Trailers for his fleet of 15 semi-trucks have doubled in price to $80,000. And he can only charge $1.50 per mile for deliveries that reaped $2.30 per mile last year.He's not alone.

Canadians continue to shell out on services ranging from airfare to fine food, but their craving for items shipped in a box has fallen since 2021 and 2022. “We wait for one to three days for it to come back," Singh said of his shipments to California, referring to the pre-load wait time. Rather than having stable contracts and regular income to fall back on, the"mom-and-pop shops" bid daily for shipments via a range of apps such as Freightera and FreightSimple, Gradek said.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 8. in ZA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

'No profit right now': Trucking industry facing leaner times as consumer demand dropsThe Canadian trucking industry faces a shaky market as cargo volumes and freight rates continue to fall — in step with downward consumer demand — compared with the soaring highs seen during the pandemic.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Trucking industry facing leaner times as consumer demand dropsMONTREAL — The Canadian trucking industry faces a shaky market as cargo volumes and freight rates continue to fall compared with the soaring highs seen during the pandemic.
Source: SooToday - 🏆 8. / 85 Read more »

Canadian trucking industry facing leaner times as consumer demand dropsTrucking HR Canada says declining demand prompted an employment decrease of more than 20,500 jobs in the first three months of this year compared with December 2022
Source: globebusiness - 🏆 31. / 66 Read more »

Trucking industry facing leaner times as consumer demand dropsIndustry sees challenges as consumers spend more on services and less on household items
Source: PGCitizen - 🏆 65. / 51 Read more »

Trucking industry facing leaner times as consumer demand dropsIndustry sees challenges as consumers spend more on services and less on household items
Source: BurnabyNOW_News - 🏆 14. / 77 Read more »

Trucking industry facing leaner times as consumer demand dropsThe Canadian trucking industry faces a shaky market as cargo volumes and freight rates continue to fall — in step with downward consumer demand — compared with the soaring highs seen during the pandemic.
Source: BNNBloomberg - 🏆 83. / 50 Read more »