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Dive Summary:
- The American Transportation Research Institute issued its annual call for fleet participation Monday to industry nonprofits Truck Operating Cost Survey.
- The 8 page survey inquires about mileage, repair and maintenance, tires, fuel, insurance and other costs of International Fuel Tax Association (IFTA) fleets. Among other questions, it asks carriers about the type of cargo they carry, as well as truckload-related revenue in 2023 and operating or pretax profit margins.
- “We contribute data to ATRI’s Operating Costs every year because its findings are essential to our operations,” said Ozark Motor Lines CFO Jason Higginbotham. The announcement. “Our customized peer-to-peer analysis provides a meaningful update on our fleet’s performance, while comprehensive reporting allows us to identify industry-wide trends and communicate them to our partners.”
Dive Insight:
Operating costs have hit record highs over the past two years, according to the latest surveys.
The average cost per mile reached $2 in 2022, largely due to high fuel, labor and equipment costs, the research arm of the American Trucking Association said in survey results last year.
Trucking operating costs hit record high in 2022
The cost per mile of trucking, including driver wages, equipment costs, tolls and fuel, as of 2011
Spending increased in 2022 in all but two categories: permits and licenses and tolls.
Cost increases are a key trend carriers are watching this year as they try to rein in expenses in anticipation of a recovery in freight demand. The survey asks about a variety of carrier costs, including questions about driver turnover, mileage, parking, EV charging stations, speed limiter use, and driver pay and benefits.
Last year’s survey results contained a glimmer of hope for truck fleet operators in the cost category.
“Falling inflation could help reduce costs and boost consumer spending,” the 2023 report said.