Remember last year before the COVID-19 lockdowns hit and there were shortages of hand sanitizer and toilet paper. The trucking industry was there to make deliveries, but now that the hand is on the other foot, toilet paper is not coming to save us.
First it was a new truck shortage. Then there was a used truck shortage. Now, truckers who already own machines are starting to feel the strain, as individual components are in short supply.
Some of them are immediately obvious, such as a rubber shortage impacting the production of tires, but owner-operators have lamented to Overdrive Online that even airbags and gaskets are hard to find.
The true cost of the problem is the lost revenue due to missing a single part that makes the entire truck inoperable. A truck driver can have the best engine and amenities on the planet, but if he lacks six tires, the tractor-trailer is making as much money as if he did not have one at all.
The lack of available components comes from a combination of increased supply with a decrease in demand, with the trucking industry being on fire for almost a straight year now and other industries such as manufacturing are struggling to keep up due to the COVID-19 pandemic.
With the Delta variant of the coronavirus having the potential to put states and perhaps the entire country into lockdown again, the future of the trucking industry is currently unknown. The demand is undeniably there, but other industries that the trucking industry relies upon seem to have been hit harder by the pandemic and are struggling to keep up. Unless the supply chain is resolved soon, the economic law of supply and demand will eventually kick in and prices will rise to match the occasion.
Top Trending Trucking Articles
- Congress Considers Side Guards for Trailers
- Truck Parking Bill Makes a Comeback
- Joe Biden’s Infrastructure Plan and How it Impacts Truckers
- CVSA Operation Safe Driver Week Starts July 11th
- Companies and Drivers Split on DRIVE-Safe Act
- Trucking Insurance Bill Reintroduced to Congress
- AB-5 Applies to Trucking, Appeals Court Ruled
- FMCSA Declares Regional Emergency Regarding Fuel
- I-40 Bridge Shut Down Until Further Notice
ABOUT TOPMARK FUNDING
TopMark Funding is a top-rated semi-truck financing and trailer financing company located in Roseville, CA. We specialize in commercial trucking and heavy equipment. Our mission is to become your long-term financial partner by helping you grow your trucking business and fleet.
We’re not here for the short-term, we’re on the long-haul with you!
Learn more about Trailer Financing.
Fill out the contact form or give us a call at (866) 627-6644. One of our truck financing specialists will contact you as soon as possible to go over your truck lease needs and learn more about you and your business financing goals.