How Has the COVID-19 Pandemic Affected the Trucking Industry?

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Let’s be honest, 2020 has been less-than-ideal for just about anyone and everyone thus far. Even worse, it doesn’t seem to be getting any better anytime soon. Much like everyone else, the trucking industry has been faced with challenge after challenge, obstacle after obstacle throughout the COVID-19 pandemic. 

 

Furthermore, nationwide protests have also made it rather unsafe and unpredictable for truck drivers across the country. 

 

As both of these situations continue to weigh down businesses, it’s becoming more difficult to stay afloat amidst the mess. Small businesses in the trucking industry are consistently searching for answers, but most of them will only be left with more answers. 

 

States & Businesses Shutting Down (Again)

 

On January 21st of 2020, the United States had its first confirmed case of coronavirus in the state of Washington. By March 11th, the WHO declared COVID-19 a pandemic, and two days later the POTUS stated it was a National Emergency. 

 

By the end of April, most businesses were starting to temporarily shut down and others were even closing for good. 

 

Throughout June, we started to see some signs of triumph but that was quickly shut down recently when the United States started to see record numbers (not the good kind) in more than half of states across the country. 

 

With the recent COVID-19 pandemic spikes, businesses that had started to reopen had to quickly halt those actions and go back to being temporarily shut-down. 

 

Throughout it all, the trucking industry has been hard at work doing what they do best — but it hasn’t been easy. Many trucking fleets have had to cut down on drivers and even shut down themselves. Rates for loads started to plummet and truckers found it difficult to find work.

 

Protests Making Things More Difficult

 

In addition to that, the nationwide protests surrounding the Black Lives Matter movement and police reform have made it even more difficult for the trucking industry. 

 

One lawmaker in Missouri is calling on the USDOT and FMCSA to suspend HOS (hours of service) regulations due to the nationwide protests putting these truckers in danger. Some truckers have even faced direct violence when they were just trying to deliver their load to the destination.

 

Since drivers are forced to take the “safest” route to the destination, they give up the option to take the “quickest” route — which may not always play in the trucker’s favor, or the client’s favor.

 

How Are Trucking Companies Getting Through It?

 

While many trucking companies are finding it difficult to continue pushing forward, freight factoring has been helping the trucking industry stay alive. 

 

With all the unpredictability we’re seeing today, it’s nice to know that you’ll be receiving funds from a load just 24-48 hours after delivery. By stabilizing your cash flow with freight factoring, you can continue kicking for as long as possible. 

 

If you’re new to freight factoring, we have all the information you need within our blog. If you’re ready to sign up with a factor or switch to a higher-quality factor, we can help you find the right one for your business! Contact us today!

 

References

 

Transportation Nation Network, et al. “Lawmaker Warns Truckers Are in ‘Imminent Danger,” Calls on FMCSA to Suspend H.O.S.” Transportation Nation Network, 2 July 2020, www.transportationnation.com/lawmaker-warns-truckers-are-in-imminent-danger-calls-on-fmcsa-to-suspend-h-o-s/.

 

Summer Smith. “Some States Shutting Back Down, Truck Drivers Share Their Concerns.” CDLLife, 30 June 2020, cdllife.com/2020/some-states-shutting-back-down-truck-drivers-share-their-concerns/.