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Heavy & Medium Trucking Industry Show Signs of Growth

The trucking industry is experiencing a surge in sales according to a recent Forbes article by Sageworks, a financial services company. Sageworks revealed their findings after analyzing overall industry data and an assortment of financial statements from privately held trucking companies in the United States.

According to their research, the average net profit margin of businesses in the freight trucking industry rose 6 percent in 2017. This is the highest increase since 2012 when it rose 4 percent overall. Sagework also disclosed that private general freight trucking companies saw an overall 14.9 percent increase in sales last year. 

Industry experts forecast that the demand for truck drivers will continue to increase as more Baby Boomers (people who were born between the 1940s and 60s) decide to settle down and retire. They also believe certain government organizations, like the Commercial Vehicle Safety Alliance, may also give drivers an additional incentive to retire due to mounting federal regulations, such as the new mandate that requires trucks to have an electronic log device.

Based on their findings, Sageworks believes the trucking industry is trending up due to surge in economic growth and lower unemployment rates. Many trucking companies have also worked hard to streamline processes and make their business more efficient. Overall, industry experts are expecting the need and demand for commercial trucking to grow in 2018. 

For more information, please contact us today. One of our helpful staff would be glad to assist you and answer any questions you may have about our services and available parts. We have offices in over six locations and provide quality service and parts for medium and heavy trucks and buses around the country. Carolina International Trucks was founded over 26 years ago and is considered one of the biggest commercial truck dealers in South Carolina.