3,000 trucking companies went out of business in 2020

By James Jaillet, CCJ executive editor

@ https://www.ccjdigital.com/

U.S. trucking company failures nearly tripled in 2020 from the previous year as fallout from the one in a 100 year’s pandemic hit the trucking industry. Some 3,140 fleets shut down last year, that’s a 185% jump from 2019 and virtually none in 2018. according to transportation industry data firm Broughton Capital LLC

The trucking industry is very competitive and unforgiving at times, especially for the owner-operator. Yet, The reports also stated that almost all new entrants were owner-operators.

Many times New Owner Operators enter the industry after watching YouTube videos that glamorize the trucking industry, not realizing those same trucking Youtubers are pushing the dream for monetization. As with everything, you should do your own due diligence before entering the industry.