The last trucking market crash was in 2019. The current market could end up worse for small truckload fleets.
The freight market crash in 2019 was caused by two factors – a freight slowdown due to tariffs on Chinese imports and a surge of new fleets flooding the market, even as rates continued to fall.
Until 2019, we had never seen that many new fleets enter the market, especially during a market downturn. During 2019 an average of 7,200 fleets entered the market per month compared to an average...
https://www.freightwaves.com/news/truckings-market-crash-severe-amid-inflation