2018: Before looking over the automotive industry in recent years, we need to look over what went in previous years. It is needed to understand what happened in the past in order to get an idea about the Auto Industry in 2019. The auto industry achieved a milestone when in 2018 all the sales of new vehicles accumulated to 17.3 million. That was an achievement in itself.
2017: Going back to 2017, a huge increment in profits was seen in the auto trucking industry according to a report released by ATA (Auto Trucking Associations). The report released showed the amount of $700.3 billion as the generated revenue. We can see the growth in the business since there has been an accretion in 2017 as compared to what was witnessed in 2016. In 2016 auto trucking industry generated $676.2 billion. A little bit of analyzing shows an increase of a total of 3.5% accretion in the profit percentage.
What experts have to say about the auto trucking industry?
Well, the background information that we gathered is that around 10.77 billion tons of freight were relocated through the trucking industry and that makes 70.2% of domestic tonnage as compared to 2016’s stats that show the 10.42 billion tons making up 70.6% of the domestic tonnage.
The report further affirmed that almost 69.1% of transportation took place between the USA and Mexico and 57.7% of it from the USA to Canada.
The man behind all the research, President Chris Spear, alleges that the auto trucking industry has taken all the command over the freight market and is growing rapidly.
Spear is very optimistic about the auto trucking industry and according to him when information is presented properly and accurately it tells a story. He thinks that the information contained in these pages highlights only what he tells officials and key decision-makers: “Trucking is the driving force behind our economy. Reliable, safe and efficient motor carriers help businesses throughout the supply chain management to manage inventories, by saving the economy millions of dollars each year.”
Auto Trucking Industry and the Economy
The economy is all the wealth that a country enjoys from the use of resources by either production or consumption of services and goods. No country can survive long if there is a failing economy. But when there is a sign of economic growth, optimism related to the healthy economy leads to the betterment of the country as a whole. With a high unemployment rate as the biggest factor that increases the economic decline, any country would need to provide enough employment opportunities in order to sustain the growth.
Talking about the benefits related to increased employment rate, the auto trucking industry is giving the USA a boost to the economy as it has given employment opportunities to about 7.7 million people. Out of that around 3.5 million of the people managed to get the job as a driver. Around 1.7 million work as a trailer driver. Women are also a part of the automotive industry now and account for about 6.2% of the total amount.
Transportation and Logistics Industry
America is looking forward to its transportation and logistics industry as it has shown itself as a promising industry for the country’s economic growth. This industry is highly competitive and multinationals have eyes on it. These multinationals know that their investment in such sectors will never go wasted and they will be able to put them in a commending status to advance the transportation of goods throughout the world’s most extensive consumer market. All the domestic and international companies that are working under this sector benefit from a proficient and experienced workforce at relatively inexpensive rates. In 2018, Business Logistics Cost stretched to about $1.6 trillion. Many analysts believe that investment correlates with growth in the US economy. Highly integrated networks of America’s supply chain industry connects producers and consumers through multiple modes of transportation that include express and air delivery services, truck transport, etc. These domestic and multinational companies serve customers and provide logistics and transportation solutions to make sure there is coordinated movement of goods from one point to the endpoint.
These changes in the automotive industries have precluded many downsides that were recognized back in the 1980s and now this industry is growing too fast. One of the platforms that are connected with the logistics sector is Auto Transport City which has managed to provide many services that customers need in this sector.