TORONTO, Ont. - Only 24% of OTA member companies that responded to the association's first Business Pulse e-Survey are optimistic about the industry's overall outlook, confirming that Ontario carriers...
TORONTO, Ont. –Only 24% of OTA member companies that responded to the association’s first Business Pulse e-Survey are optimistic about the industry’s overall outlook, confirming that Ontario carriers are increasingly concerned about the current tumultuous business environment.
Forty-one per cent of 90 respondents said they were “unsure” about the industry’s overall outlook while 34% said they were “pessimistic.”
The fourth quarter survey provides a snapshot of what’s on the minds of Ontario fleets. It has been made available to OTA members, with future surveys to be conducted quarterly. The survey included 22 questions about current market conditions, and helped back up anecdotal reports about evolving freight trends.
“There have been some major changes in the volume, mix, trajectory and type of freight moving within, into and out of Ontario,”OTA chief David Bradley said. “This has had a significant impact on capacity and the balance of freight. While there is obviously a lot of uncertainty and concern in the industry at the present time, there are also indications that capacity will continue to adjust and be brought more in-line with demand for transportation service. Trucks are not going to go away; they will remain the preferred mode of freight transportation regardless of what is happening in the broader economy. Obviously, however, a healthy trucking industry requires a healthy economy and 2009 is shaping up to be more of a challenge than 2008.”
Other highlights include: 72% of respondents say their access to credit is tightening; 29% of fleets plan to add more company drivers over the next three months; and just 20% of carriers plan to add more tractors. For full results, contact OTA. •
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