Laid Off Truckers Going into Business for Themselves Amid Coronavirus Pandemic

While the COVID-19 outbreak has drastically slowed down overall demand for delivery trucks and equipment in the freight industry, Ryder System Inc. – a provider of transportation and supply chain management products – reports sales for used commercial trucks have steadily increased since April.

And despite truck sales figures falling short of historic patterns for this time of year, first time buyers are actually leading the demand for used equipment — which is an early sign of how the coronavirus pandemic is changing the face of the logistics industry. Laid off fleet drivers are seeing an opportunity in these unprecedented times and purchasing trucks, tractors and tractor-trailers in a bid to go into business for themselves.

Ryder has reported steady sales of used vehicles nationwide, with most transactions occurring in the Southeast and Western regions of the country. In an effort to help nurture this emerging demand, Ryder is offering free delivery for ALL vehicle classes along with financing plans that include deferred payments and discounted interest rates.

These discounted prices and offers for truckers may end up paying off big in the long run, as well. While the fleet economy’s recovery will most likely be slow, 2021 could be a “transition year” that sees newly established businesses pave the way for long-term profit in the trucking transportation sector. This will all be highly dependent on contingencies including oil and fuel price impacts along with regulatory alterations as a result of the COVID-19 outbreak.

But even with the unforeseen future of the trucking industry, there are already a few unique advantages giving new fleet business ventures a leg up during the coronavirus pandemic. The biggest benefit would be the U.S. Department of Transportation temporarily lifting the Electronic Logging Device mandate which regulates the number of hours a trucker can be on the road at any given time. This emergency declaration has been extended to vehicle drivers transporting critical goods such as masks, gloves, hand sanitizer, medicine and food for emergency restocking of stores in addition to any other item that is immediately needed as the virus outbreak continues.

This is the first time the FMCSA has issued nation-wide relief of the mandate since its implementation in 2018 and will most likely remain in effect for the foreseeable future.

Thinking About Starting a New Fleet Business? Make Sure Your Drivers and Your Bottom Line Are Protected!

If you are one of the fleet entrepreneurs mentioned in this article looking to establish themselves within the trucking industry during these uncommon times, make sure your drivers meet the safety standards for operating on the road. With the ELD mandate lifted, many truckers will be driving for longer hours than normal which will drastically increase the chances of being involved in a costly vehicle accident accident.

FleetOptix’s vehicle dash cams can help you set a new standard for safety and efficiency by mitigating accident risks such as drowsy driving and texting while driving: the #1 cause of car accidents on the road today.

To learn more about our dash cam systems, contact us today or call (844) 453-5338 to receive a quote as well as schedule a demo of our systems.