Bergey’s Truck Centers Acquires Cumberland Truck
Bergey’s Truck Centers Acquires Cumberland Truck
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Overall U.S. freight outlook tonnage will rise nearly 25% and revenues from that freight will surge above 70% over the next decade, per the latest long-term freight forecast released by the American Trucking Assns. (ATA).
The ATA U.S. Freight Transportation Forecast to 2025 predicts further growth not just for trucking industry, but for the entire freiight economy, according to ATA chief economist Bob Costello. (Forecast was produced by ATA in collaboration with IHS Global Insight.)
Findings of the long-range freight outlook include:
• Overall freight tonnage will grow 23.5% from 2013 to 2025 and freight revenues increase by 72%
• Overall freight tonnage will grow 23.5% from 2013 to 2025 and freight revenues increase by 72%
• Trucking’s share of freight tonnage will increase from 69.1% in 2013 to 71.4% in 2025
• Rail intermodal tonnage will grow 5.5% annually through 2019 and 5.1% a year through 2025— yet rail market share will shrink from 14.5% of all tonnage in 2013 to 13.8% in 2025
Forecast also breaks down in their freight outlook how movements shape up regionally, by both percentage of inbound and outbound tonnage.
“Truck freight generated nearly $682 billion in revenue last year, which is a new record,” stated Costello in introductory remarks to Forecast.
“According to IHS Global Insight,” he continued, “total truck tonnage, including for-hire and private carrier operations, hit 9.68 billion tons in 2013, the highest level since 2008. As of last year, total tonnage was up 13.6% from the low in 2009.”
Costello remarked that “despite the slow [economic] recovery so far, the long-run freight outlook still remains bright for nearly all modes.”
He added that key contributors to the projected “robust growth” will involve “many factors,” including trends in manufacturing, consumer spending and international trade.
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