The Weekly Report brings you updated data on recruiting metrics including click, search, and spot rates, plus a new story of the week. This week’s story – Thousands of trucks have been recalled due to a connecting pin issue!
We provide the Weekly Report in numerous formats every week. Which one is right for you? Watch the latest reports on our Talent Intelligence Resource page or YouTube channel, use our Numbers at a Glance section for quick visual references, download the Weekly Report PDF (available below), read the transcript, or listen to the audio version of October 5, 2022, Weekly Report below.
|WOW: ▲ Up 1¢ per Mile|
|Spot Rates by Segment|
|WoW: Dry Van ▲ Up 1¢ per Mile|
|WoW: Refrigerated ▼ Down 4¢ per Mile|
|WoW: Flatbed ▲ Up 4¢ per Mile|
|Load Posting Volume|
|WOW: ▼ Down 3%|
|Load Volume by Segment|
|WoW: Dry Van ■ Flat|
|WoW: Refrigerated ▼ Down 9%|
|WoW: Flatbed ▼ Down 1%|
|WOW: ▲ Up 3%|
|Truck Driver Searches|
|WOW: ▲ Up 13%|
|MoM: ▼ Down 14%|
|YoY: ▼ Down 39%|
|Clicks on Truck Driver Postings|
|WOW: ▲ Up 1%|
|MoM: ▼ Down 14%|
|YoY: ▲ Up 28%|
Would you like to have your own copy of the trucking industry data? All of the information covered in this week’s report for October 5, 2022, is available for your convenience in PDF form below. Click the image to view and download your copy of the Weekly Trucking Insight.
Hello everyone. Welcome to the Weekly Report. For Randall Reilly, I’m Joshua Miller. New reports are released on YouTube and our Randall Reilly site every week covering all of the most up-to-date data for driver recruiting and a brand-new story of the week.
If you like our reports don’t forget to like, share, and subscribe so you never miss when we post new video content. Now let’s get to this week’s report.
Searches were up 13% WoW, but down 14% MoM and 39% YoY. For clicks, we saw a small 1% gain WoW, a 14% drop MoM, and a 28% increase YoY.
Total load postings fell by 3% WoW. That drop represents a 53% drop of load volume when compared to the same week last year and is 15% below the five-year average for the week.
Dry van postings remained flat while refrigerated load postings fell by 9% and flatbed postings decreased by 1% WoW.
Postings were up in the Southeast pretty much across the board, but only rose or fell marginally throughout the rest of the country. This may or may not be a result of Hurricane Ian making landfall this past week. Since the storm didn’t reach shore until Wednesday it’s a little tricky to see if that was the primary driving factor, but we may know a little more next week.
The overall truck availability was up by 3% WoW as the load-to-truck ratio fell to its lowest level since all the way back in June of 2020.
Spot rates inched up by 1¢ per mile WoW. With that overall increase dry van rates crept up by 1¢, refrigerated rates dipped by 4¢, and flatbed rates increased by 4¢ per mile WoW. Spot rates are now 26% lower than they were at the same point last year.
Thousands of trucks have been recalled. Nearly 7,000 International trucks were recalled from service due to a connecting rod issue. The rod wrist pins are at risk of cracking in International A26 engines, which could lead to engine shutdown.
The recalled trucks with the A26 engine include:
Dealers have been tasked with installing a new knock detection software patch to help warn the driver prior to any engine connecting rod failure. Beyond that, connecting rods will be replaced as needed free of charge.
And International isn’t the only one dealing with recall woes. The Nikola Corporation is recalling 93 of its 2022 Nikola Tre battery-electric vehicles. It was discovered that the seat belt shoulder anchor assembly may have been installed improperly. If you happen to be affected by this the dealers will replace the anchor assembly free of charge.
That’s all for this week’s report. We hope the information has been useful and informative to you. You can download a PDF version of our report with all the information we covered today from the description section of the video on YouTube or in the main body of the page if you’re watching over on our Randall Reilly site. Come on back and see us next week when we’ll take another look back to help you move forward. Until then, have a great week everybody.