Trucking rate increases expected to hover under 5%: Survey

by Today's Trucking

TORONTO, Ont. – Members of Canada’s trucking industry believe rate increases will sit below 5% in 2021 as the economy emerges from the first year of Covid-19, according to the latest survey of Today’s Trucking readers.

Thirty percent of the 175 people who responded to yesterday’s Pulse survey expect rates to stay the same in the year to come, while just over 31% anticipate increases of 1-5%.

(Photo: istock)

While just under 25% expect general economic conditions to have the biggest impact on rates, other leading factors were identified as the truck driver shortage (17%), or the potential of tighter Covid-19 restrictions (10%).

Most of those who were surveyed (52%) expect Covid-19 public health restrictions like the use of masks and social distancing to remain unchanged in 2021. Thirty percent are expecting such restrictions to be eased.

A majority of those surveyed (36%) believe their own business will to be flat, while just under 23% expect to grow 5-10%, and 8.6% expect business to grow by double digits. Only 22% expect any drop in business at all in the coming year.

Complete survey results will appear in the January/February edition of Today’s Trucking.

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