The shortage of drivers plagued trucking in 2018, and this trend is expected to continue well into 2019. Sign-on bonuses remain largely ineffective in recruiting drivers, and recruiters are beginning to seek other tactics.
Recruitment/retention efforts will ramp up
In an effort to combat the driver shortage, more investment is being made into methods to recruit and retain skilled drivers. Companies are investing in employee communication, mileage bonuses, and better recruitment and training opportunities.
Long lead times affect replacement cycles
Lead times in manufacturing of fleet vehicles are already very tight, meaning asset replacement is slow. In turn, increased pressure is being placed on maintenance efforts to prolong the life of older or used fleet vehicles.
Used truck uncertainty
Due to the long lead times, used vehicles are being relied upon more and more. The value of these used vehicles remains high, but some experts expect this value to drop in 2019, leading to uncertainty of value.
Electric Truck development
Development, testing, and implementation of electric vehicles continues to speed up in 2019. However, due to slow asset replacement speeds, the conversion of the industry to electric fleet vehicles will be slow moving.