Trucking equipment issues expected to extend into 2023

SalesMoney Matters
Written By Jennifer Joslyn

Some of the largest players in the game such as Schneider National and J.B. Hunt voiced concerns regarding the 2023 market forecast at the Stephens Annual Investment Conference last week. Mark Rourke, president and CEO at Schneider, and Nick Hobbs, COO and president of contract services at J.B. Hunt, have advised that they expect OEMs will increase production in 2023 regardless of supply chain disruptions and that the companies will need to obtain new equipment to fulfill orders from other trucking companies.

One thing is clear: it’s uncertain that there will be enough new equipment to meet demand. Many trucking companies have decided to pursue alternative tactics for replacing their fleets, such as an acquisition.

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