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Also, federal budget deficits continue


to be a $1 trillion annual problem. The strategy of increasing taxes on the rich won’t bring the budget into balance because while only 2.3 percent of households have annual incomes over $250,000, they already pay 30 to 35 percent of all income taxes. Cutting only discretionary spend- ing also won’t be enough because the bulk of government funds go to defense, Social Security, Medicare, Medicaid and interest on the national debt. The improving economy has resulted


in rising driver turnover rates at both large and small truckload carriers to about 100 percent levels. That will be a continuing problem, especially as the housing market picks up steam and more potential drivers take construction jobs. The driver shortage that began forming in 2012 is projected to reach 239,000 openings in 2022. The indus- try will need 96,178 new drivers in the next 10 years, 37 percent because of retirements and 36 percent because of industry growth. Small fleets face unique challenges.


Some are struggling to get credit and selling two trucks in order to buy one. More than 30 percent are leasing their vehicles rather than buying them.


RISKS. YOU DON’T WANT TO GO OUT THERE ON A LIMB, HIRE MORE PEOPLE AND INVEST IN MORE CAPITAL UNTIL THERE IS LESS UNCERTAINTY.”


“THAT UNCERTAINTY JUST HOLDS BACK BUSINESSES. YOU DON’T WANT TO TAKE ANY


—BOB COSTELLO, CHIEF ECONOMIST, AMERICAN TRUCKING ASSOCIATIONS


Still, Costello said, trucking remains re-


markably diverse with both large and small companies. “This is still a very competitive market with a lot of different players in


it,” he said. “Is it more consolidated than it once was? Sure. But compared to other industries, it’s still very competitive. There are a lot of players.” TTN


For 36 years, Nacarato has been serving Nashville and surrouding areas as a full line Volvo truck dealer. We offer comprehensive customer support through our dedicated parts, service and body shop operations. We stock quality pre-owned trucks, many backed by Volvo’s exclusive generation2 program, for all applications, giving customers the best selection in the Southeast. No one beats Nacarato Volvo Trucks in any area of truck dealership support.


SPRING Q1 2013 TENNESSEE TRUCKING NEWS


Nacarato Volvo 519 New Paul Road LaVergne, TN 37086 800-714-8789 www.nacaratotrucks.com


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