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Driver wages remain the largest expense. Safety bonuses ($1,831 average) surpassed starting bonuses for the first time.
According to the American Transportation Research Institute (ATRI), the cost of trucking hit an all-time high last year, at $2.27 per mile. This represents a less than 1% increase from 2022.
Driver wages remain the largest expense. Safety bonuses ($1,831 average) surpassed starting bonuses for the first time.
The LTL sector saw a 15.6% cost increase, partly due to competition for drivers after Yellow Corp's closure.
While 2023 saw record costs, the rate of increase has slowed. Trucking companies should monitor these trends closely in 2024.
Sources: Trucking Dive | ATRI
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