Given all the factors currently causing difficulties for the trucking industry, you might think that commercial truck sales are down this year. Fortunately, for private truckers, those who own shipping companies and dealerships that specialize in big rigs, the sale of big trucks isn’t slowing down at all.
Setback in the Trucking Industry
In recent years, the trucking industry has had to contend with a few significant problems, whose origins date back to before the COVID-19 pandemic. Some of these issues include:
- Truck Driver Shortage
- Worldwide Logistics Problems
- Driver Compensation
- Heavy Regulations
These are all issues that might convince someone from an outside perspective that the trucking industry is in perilor that buying a truck today would make a bad investment. However, the numbers show that assumption is incorrect. While these problems are ongoing, they haven’t been enough to slow down the sales of big rig trucks.
Predicted Growth in the Coming Years
Given that the trucking industry is expected to grow by 474.96 thousand units between 2021 and 2025, the industry doesn’t seem to be slowing down. Additionally, global transportation as a whole has been predicted to grow at a rate of 3.7% until at least 2027.
With these positive insights in mind, it is safe to say that any investment in the commercial truck market will be secure in the coming future and may also provide an opportunity for substantial growth. In any case, any losses encountered in the investment in commercial trucks are not likely to be due to larger market trends.
Continued Truck Sales
If you’ve been considering buying a reliable and robust option, like Western Star trucks, to replace older vehicles on your fleet, then you don’t have to worry about the value of your investment. The current predictions for the commercial truck market are good on account of a healthy outlook expected for the transportation industry overall, including room for growth.
Reasons for Continued Growth
Part of the reason the transportation industry is so robust is that it is adaptable to change. One aspect that has contributed to a positive outlook for the commercial truck market in the coming years is innovation. Some of the new features that commercial trucking may introduce in the coming years include:
- Increased Automation
- GPS Tracking and Reporting
- Mobility and Software Services
- Electric Vehicles
These services are capable of providing more efficient shipments and accuracy.
Potential for Investment
The current predictions for growth suggest that this is the perfect time to seize the opportunity to join a thriving business. If you’re not currently working in the transportation industry and are interested in getting started, there is no reason to hesitate. Whether you’re interested in becoming a driver, managing a shipping company or investing in commercial trucks, there’s no time like the present to get started.
If you’ve been hesitating in buying a commercial truck because you were unsure about the state of the transportation industry, there’s no longer any need to wait. Contact a commercial truck dealer to find out what models are available in your budget range.