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Recent data from the Bureau of Labor and Statistics has confirmed what many consumers have already recognized at the cash register: Prices continue to rise for goods and services. 7.9% increase in Consumer Price Index Feb. 2021-2022 From February 2021 to February 2022, the Consumer Price Index for All Urban Consumers (CPI-U) rose by 7.9%—the largest 12-month change since January 1982. . In other words, consumers are paying 7.9% more for goods and services than they were a year ago. What’s behind these sharp price increases? Basic economics of supply and demand. This balance was disrupted during the pandemic. As companies struggle to get their...

Empty dealership lots. Long waiting lists for new vehicles. Higher prices for both new and used cars. The semiconductor chip shortage hit the auto industry hard, impacting manufacturers, dealers, and consumers alike: Consulting firm Alix Partners has estimated that the shortage will cost the automotive industry $210 billion in lost revenue in 2021, $100 billion more than the firm’s initial estimates. AutoForecast Solutions projects that 11.3 million vehicles will be cut from production plans before the crisis is resolved. Additionally, some experts anticipate that shortages will last at least into 2023, with Cox Automotive estimating that it will take at least until 2025 for the...

As the freight industry looks to green technology for sustainable solutions, electric vehicle (EV) solutions were on full display at CES 2022. Alongside innovations in digital health, food tech, gaming, and smart home applications, companies exhibited heavy-duty battery-electrics and hybrids alongside lighter duty last-mile vans and even autonomous platforms for closed logistics ecosystems. Unlike some of technology that’s unveiled at CES, some of these EVs are not only already in production but also currently in commercial use. In other words, the EV tech displayed at this year’s CES was both strong in concept and reality. Ultimately, these entries offered new promise that EVs might finally...

A little while ago, we tackled the question, “Why is the supply chain so messed up?” Despite efforts from local officials, California Governor Gavin Newsom, and even President Joe Biden’s administration, there’s still significant congestion at the Ports of Los Angeles and Long Beach. For our part, we’ve been hearing from a number of shippers looking for drayage solutions to get their containers out of the ports. A few key statistics lay out the current state of affairs: 82% increase in average end-to-end transit time from China to the U.S. Due in large part to port congestion, U.S.–China ocean freight transit time has increased considerably,...

Considering shipping freight to Puerto Rico?  Maybe you're an entrepreneur or a company entertaining the idea of starting a new business located in Puerto Rico. Or perhaps you're a freight forwarder looking at entering the Puerto Rico market to attract new customers.  Because of its status as a U.S. territory and, therefore, a Jones Act location, shipping freight to Puerto Rico can generate a number of questions—and misconceptions. Some people think it must be a complicated process. Others believe the transit times are too long. And still others imagine it must be expensive. Still others worry that dealing with the government of Puerto Rico will be a hassle. However, the truth is that shipping to Puerto Rico doesn't have to be any of these things.  In...

To some, the trucking industry is one that's steeped in tradition, run by veterans of the industry, and not likely to change. However, recent advances in technology stand to put this perception on its head as trucking embraces recent innovations that very well may revolutionize the way this mode of transportation operates.   We'll take a closer look at three of these areas of rapid innovation in recent years. Each has the potential to significantly impact the way over-the-road transportation operates, with potential for new efficiencies, reduced equipment downtime, better decision making, and more.   While the full implementation of some of these technologies is still years off, others are in play right now. Taken together, they could...