Recent analysis by IHS Markit, the production of commercial vehicles globally is down 22% to 2.6 million units compared to 2019.
Activity in the UK trucking industry is getting back to pre-coronavirus levels, but recovery is slower than its European counterparts.
A new report suggests that revenue from road freight in Europe could drop by as much as €63 billion in 2020 as a result of the impact of coronavirus.
European road freight companies are expected to see a 17% decrease in annual turnover this year due to the Covid-19 crisis, according to industry estimates.
While the industry has been praised by the government for ensuring Britain is “fuelled and fed, almost half (46%) of haulier’s lorries in the UK have been taken off the road since the coronavirus outbreak started.
Amazon has denied it plans to undercut the road freight market after the launch of its new online freight brokerage service.
The latest report from logistics market research company Ti shows that Europe’s road freight sector saw its fastest growth rate of 4.5% in real terms since 2009. Figures published in the European Road Freight Transport report also show that this momentum looks set to continue. Europe, like so many other regions around the globe, is heavily reliant on trucking, so it’s hard to imagine the effects if truck drivers were to suddenly stop driving. You can get some idea from events in Brazil. When Brazilian truckers went on strike for a week, it paralysed the country. Sao Paulo, Brazil’s largest city and financial hub, declared a state of emergency, and public transport ground to a standstill as petrol stations ran out of fuel. Brazil’s President gave in to striking truckers’ demands after...[Read More]