American Transportation Research Institute (ATRI) Analysis of the Operational Costs of Trucking report, released in June 2024

I wanted to share something with the group that I pay attention to every year. The is the report from 2023 year, and the 2024 report should be released about June.

Know your numbers!

Here's the executive summary:

The latest American Transportation Research Institute (ATRI) Analysis of the Operational Costs of Trucking report, released in June 2024, states that the total marginal cost of operating a truck in 2023 was $2.270 per mile, a 0.8% increase from 2022. Excluding fuel costs, marginal costs rose 6.6% to $1.716 per mile. On a per-hour basis, costs were $91.27, up 0.5% from $90.78 in 2022. Key cost components included:

Fuel Costs: Decreased 8.8% to $0.553 per mile.
Driver Wages: Increased 7.6% to $0.779 per mile.
Truck/Trailer Payments: Rose 8.8% to $0.360 per mile.
Repair and Maintenance: Up 3.1% to $0.202 per mile.
Insurance Premiums: Jumped 12.5% to $0.099 per mile.
Tolls: Increased 21.4% to $0.034 per mile.

The report highlights challenges like a soft freight market, increased deadhead mileage (16.3% for non-tank operations), and higher driver turnover in the truckload sector. Operating margins were 6% or lower in most sectors, except less-than-truckload (LTL).

What are your predictions for the 2024 year?

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