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Today, we will compare the recovery patterns of open and container trucks from the COVID-19 setback in India. The insights, generated by WheelsEye Technology, reveal that the demand and profitability of a container truck is much more than that of an open body truck.
Here’s how a container truck is better than an open truck:
- Freight rates for a container truck is roughly 1.5 times than an open body truck.
- A container truck needs to travel 32% less distance than an open body truck to earn a profit.
- Demand for container trucks has increased in the past 1 year with huge growth seen in the Ecommerce and pharmaceutical industry.
- Fleet utilization of container trucks has roughly been 20-25% higher than open body trucks. This is independent of tire count.
After the above exhaustive analysis, we can observe a tectonic shift happening in the transportation industry. Therefore, Truck/Fleet owners can ensure a quick recovery and profitability by:
- Investing into container/closed body trucks as they are relatively higher in demand since the past one year. Truckers can also convert an open body truck into a container truck for roping in more clients and maximizing the profits.
- Shifting focus towards different industries which are expected to bounce back from the COVID-19 setback quicker than others like the agricultural industry. It has been observed that the food and pharmaceutical industries have experienced none to very less impact from the pandemic. Hence, fleet owners who are facing difficulties in terms of business must connect with such industries.