When the U.S. economy begins to pick up speed, the trucking industry is among the first to benefit from it.
There was a recent report stating that in order to keep with the increasing freight demand, big players such as Old Dominion Freight Line and Knight Transportation are ordering hundreds of new big rigs. In that sense, the overall sales have jumped to an eight-year high, with net orders for 90,289 large trucks in the first quarter of the year. That is 35 % increase of such orders compared to 2013, and going back to levels in early 2006.
Trucking companies are expanding their fleets and replace tractors that are approaching a near-record age of 9.6 years.
Despite the harsh winter, the truckload shipping volumes rose 4.9 % in the first quarter, according to FTR Associates, a consultant firm.
Economists surveyed by Bloomberg say that the gross domestic product will expand 2.5 % in 2014, which is 1.9 % rise compared to last year.
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