221 trucking companies have gone bankrupt so far this year. That's the highest pace in over two decades.
This isn't a one-off either. We've now had three straight years with at least 220 bankruptcies. Compare that to 2021 and 2022 when annual bankruptcies were under 100.
The pain is concentrated among smaller operators. Two-thirds of trucking firms with 20 trucks or fewer are reporting flat or declining revenue. Even worse, 40% say they're either planning to exit the industry or aren't sure if they'll still be around in six months.
What's killing them? Diesel prices that won't quit, insurance premiums that keep climbing, and borrowing costs that make it harder to weather slow periods.
Trucking is often called the backbone of the economy. When small carriers can't survive, it's a sign that cost pressures are real and widespread. This isn't just about one sector struggling. It's a warning about what's happening beneath the surface across Main Street America.
This isn't a one-off either. We've now had three straight years with at least 220 bankruptcies. Compare that to 2021 and 2022 when annual bankruptcies were under 100.
The pain is concentrated among smaller operators. Two-thirds of trucking firms with 20 trucks or fewer are reporting flat or declining revenue. Even worse, 40% say they're either planning to exit the industry or aren't sure if they'll still be around in six months.
What's killing them? Diesel prices that won't quit, insurance premiums that keep climbing, and borrowing costs that make it harder to weather slow periods.
Trucking is often called the backbone of the economy. When small carriers can't survive, it's a sign that cost pressures are real and widespread. This isn't just about one sector struggling. It's a warning about what's happening beneath the surface across Main Street America.
