Total revenue estimates produced by the trucking industry are over 255.5 billion a year. Of this figure ‘for hire’ or ‘common carriers trucking’ companies generated revenue estimated at 97.9 billion. They outdid air transportation by 18 billion.
Private fleets generated revenue estimated at 121 billion. Their operating ratio is 95.2, which means for every dollar in revenue the trucking company has a cost of 95.2 cents leaving them with a meager profit of only 4.8 cents.
The employee driver makes about 30.3 cents per mile with an income estimate of 32-50k.
It costs about 41.73 cents per mile to operate a semi or $83.68 per hour according to reliable estimates.
18-wheelers consume over 50 billion gallons of fuel for business each year.
These stats further confirm the contention that the trucking industry is completely entwined in the American economy and I offer that were it to falter or meet its demise would be to strike a catastrophic blow. For the time being semis and other big trucks will be around into the near future.
Our law firm is deeply entrenched in all things truck accident related and it is our unfortunate lot to see the results of 18-wheeler collisions up close and personal. Semis account for anywhere from 9% to 12% of traffic deaths annually across the country.
These scenes and their aftermath are heart wrenching and haunting. But it will not prevent truckers from hitting the road and a balance is needed between keeping big rigs on the road and protecting our families from unnecessary accidents caused by truckers breaking the rules.
If you have a family member injured by a negligent truck driver or trucking company who you feel may have cut corners safety wise, call us for a no obligation consultation- Toll Free 1-866-758-4529.