Important Facts You Should Know About the Trucking Industry
As one of the most in-demand professions right now and an industry at the frontlines of the supply chain, the trucking industry is worth billions of dollars. Here are some key facts about the industry, and if you are looking for commercial trucks for sale in San Diego, some tips for how to shop around.
Significant Revenue
The trucking industry generates significant revenue no matter the size of the trucking company. Multiple revenue streams, including truckload, regional, and long haul, account for the majority of the industry’s total income. 2020 revenue for the trucking industry hit $723.3 billion.
Major Employer
The trucking industry employs more than 1.5 million people, making it one of the largest employers in the country. Demand for truck drivers is also growing rapidly due to several factors. The first is the bottleneck in the supply chain and the need to transport goods quickly and efficiently across the country. Second is the increasing popularity of eCommerce, which requires large quantities of goods to be shipped in a short period of time.
Handles The Bulk of the Nation’s Freight
The trucking industry is responsible for the bulk of the nation’s freight. While some freight is moved by plane or train, the vast majority of it is handled by the trucking industry.
Represents Most Domestic Tonnage
Taking into consideration how many goods traverse the country every week, the trucking industry represents the majority of the nation’s tonnage. Domestic tonnage continues to grow as people and businesses become more mobile and the nature of business becomes more distributed. 10.23 billion tons of freight were moved by truck in 2020 in the United States, which represents 72.5% of domestic tonnage.
Important to the Tax Base
All those goods being transported across the country are generating tax revenue for the government. With every order and route, the trucking industry contributes to the nation’s tax base, contributing 24.4 cents in federal fuel tax on each gallon of diesel fuel and 30.3 cents on in-state fuel tax as of January 2021.
Find Commercial Trucks for Sale in San Diego
If you want to expand your business in the massive and profitable trucking industry, it is important to research the different types of commercial trucks available for sale in San Diego. You can find the best commercial trucks for sale at C&M Motors Inc. Get a quote today.
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