Drivers returning to the workforce: ACT

ACT Research’s Rental Passenger Transport Index reflects declines in volume, price and productivity, with more drivers returning to work, adding some capacity.

“While the pandemic continues to cause uncertainty, the outlook for commodity output remains positive. Despite supply chain constraints, retailers have managed to stock up ahead of the holiday season, strong consumer balance sheets, and massive demand for stock remain ahead,” said Tim Denoyer, vice president said president and senior analyst at ACT Research.

“This month’s most important survey revolves around the driving market, with the Driver Availability Index significantly improving in October, as it is clear that most fleets will be exempt from regulations. federal vaccine proposal. The large fleets that train the majority of the industry’s drivers will be affected by this mandate, although it appears that only driving schools and team drivers will be excluded from the exemptions. We see ongoing supply chain turbulence limiting capacity growth, but hiring rates are gradually improving, which will be key to the scaling trajectory. ”

Denoyer went on to say that the balance of supply and demand in trucking is slower than usual to rebalance, leading to a record increase.

“Equipment capacity is tight as sales of class 8 tractors and trailers are limited by spare parts shortages, leaving demand largely unmet,” he added. “With some structural dynamics issues likely to outlast the pandemic, and the overall freight outlook positive, we do not expect the market to ease quickly.”