Why Is Trucking So Bad Right Now? When Will It Get Better?

How to become a millionaire in trucking? Start as a billionaire. At least that's what they say. But all emotions aside, trucking is bad right now for a reason that is backed up by facts. SO let's look at what the facts are.

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[Inc-rsdx]

$3k weekly for a truck driver 3 years ago? Our business got flooded, now cleaning the excess is painful.. Amazon, Walmart, etc are getting bigger and bigger.. Spot market will never be the same

[gilbertoavina]

During the boom I didn't get carried away. I kept running my 1996 W900 on paper logs, overhauled the engine and trans, and rented a dry van from my company. When the business went to shit I switched over to regional containers. And here I am now, no truck or trailer payments, and carrier provided insurance. 😎

[dsg]

The only thing that is moving up is the american debt.

[garyuselman]

This is the most well balanced informational channel I have ever listened to! Great Wisdom!

[truckingwithnose]

The calls are coming back and the negotiating power is increasing tql is back begging to get their loads covered many of the cheap guys have fallen due to breakdowns and running at a loss I encourage everyone to know your operating cost and always negotiate when possible when possible

[krasavchik]

Want money in trucking? Introduce medallion system like it was back before uber in NYC, Boston and Chicago. It has to be certain number of power units allowed, insuring that those who already are in business will be rich. Other wise it will always be the same problems. “Too many units on the road, then everyone gets horrible rates, slowly some companies are filing for bankruptcy, after many months or even years, those who survived enjoying little bit higher rates. Slowly those rates are becoming good rates, then whole bunch of people who were climbing palm trees 6 months earlier, are like “What is going on? Money here? Just turn that round thing, push that foot square thing and earn 2k a week easy? Iam in”. Same as always. Nothing will change.

[ozzieveg]

I walked into Arrow Dealer about end of 2011. I said i needed a good used truck. They asked how much money I had and I said 10k. I actually had double that but 10k was my limit. They found me a 2009 VNL for 45k. I ran that truck til 2022. The head finally blew at 1.3milion miles. I miss that little truck...

[mikeskidmore]

There are Billions of dollars in Trucking and Billions in costs too. I read somewhere that Big Investors got into Trucking, Like Vanguard and Black Rock. Now that Proffit Margins are so thin they are getting out. Things should get better when outside money gets out of trucking.

[uria]

Knowledge is NOT power. The APPLICATION of knowledge is power. I know a person who has all the knowledge in the world and does nothing with it and therefore is powerless.

[millan]

I just want to comment respectfully that the highlight of each and every video you make is the “upper cut punch” while saying “Let’s Go “ keep the good work coming

[ChaplainJames]

I’m so glad we didn’t have social media like this when we started!! We just ran and made money!! It’s too many people talking!!

[joewatts]

I liked both quotes from your parents, awesome. I find it fun to scroll through the news in a quick manner, in an interested manner as well not like getting angry about everything that comes in front of my face. But sometimes I do wonder if I could be doing something more productive, so I just do it for a bit.

[MINDSPARK-ue]

_There are a lot of truck drivers who are doing Uber and making as much money as a company driver with 90% less stress_

[RomanVarl]

The cold-headed mathematician will always persevere ))
Thank you for the update Miranda!

[wesley_scott]

There has never been enough money to be made, financing equipment and putting employees in said equipment and running only brokered freight. Not before Covid and certainly not now. So many guys like me out here, 1 truck authority, driving the paid off truck, with a break even Cost Per Mile of less than a dollar, keeping what’s left over for my pay. If you came in the industry in the last few years, it’s going to be tough compete with me or someone like me. It’s actually not that bad out here. Plenty of money to be made.

[andrewalves]

36 years old. 2015 hino rollback. Paid off truck still sold it. To many regulations. Started home improvement business. 9 months later made same as 1 year. Profit. Not gross. When saudi say turn the pumps down to stable fuel prices. I knew sell not before no one wants it.

[Anthony-gijv]

Each new bankrupt transportation business means that the capacity diminishes and will result in eventual rate rises ( as mean as it sounds.)

[JoeisHungry]

did not know you followed this guy trucks.. small channel but addicting much like your channel

[Rambo-ynfy]

I love that you called it a black swan event. You’re very smart. I bought a used truck around that time with cash cause I thought it was strange everyone had money but nobody was working. So not surprised it’s as low as it is now. I also do all the maintenance and repairs myself. So used trucks isn’t for everyone. I’ve only been in truck since 2019 so I’m still new

[heydennisha]

Reality is brutal. I rather you keep it real than sugar coat every facts. Gj. I like all your data and lay out straight fact, no bs no sugar bomb.