Lessons from the Road: How the Trucking Industry Navigated a Booming Then Slowing Economy—and What It Means for Today

In the years just before 2020, the trucking industry rode a rollercoaster of change. In 2018, the U.S. economy was booming, businesses were thriving, and freight demand hit new highs. But by 2019, that momentum slowed. It didn’t just affect profits—it changed how the entire industry operated.

The ups and downs of those two years taught us a lot about how interconnected trucking is with the economy, consumer habits, and technology. And as we look at today’s market—with its own mix of challenges and opportunities—those lessons are more valuable than ever.

1. When the Economy Soared (2018)

Strong Growth, Surging Freight

In 2018, the U.S. economy grew at its fastest pace in over a decade—3.1%. People were spending, businesses were investing, and products needed to move. That meant trucks needed to move too—fast and often.

What Trucking Did

The industry jumped into action. Big carriers started hiring more drivers. Small operators saw more loads and better rates. Fleet sizes grew quickly, and equipment orders soared. But the rapid growth stretched the industry thin. There weren’t enough drivers, and the pace was tough to keep up with.

What We Can Take from It

Growth is great—but only if it’s manageable. Companies today can track indicators like consumer demand and inventory levels to prepare without overextending. Building in flexibility—like leasing extra equipment during peaks—can help balance demand without creating long-term strain.

2. The Slowdown Hits (2019)

A Shift in Global Momentum

By 2019, things cooled down. Trade tensions (especially with China) caused uncertainty. Businesses started slowing production. Freight volumes dropped—and trucking felt the impact quickly.

What Trucking Faced

Many companies had expanded during the good times. But when the freight dried up, they were stuck with too many trucks and not enough loads. Spot rates fell, and profit margins got tighter. Smaller carriers, without big cash reserves, were hit hard. Over 600 companies shut down in just the first half of the year.

What It Taught Us

Planning for the good times means also being ready for the not-so-good ones. Diversifying services, managing debt wisely, and building a flexible cost structure can make all the difference when the market shifts.

3. What Was Driving Change Behind the Scenes

Regulations Tightened Up

From ELD (Electronic Logging Device) mandates to long-standing effects of deregulation, the industry had to adapt. Compliance wasn’t optional—and it came with both costs and benefits.

How Companies Handled It:

Those who embraced the changes early had fewer disruptions. ELDs, for example, helped with safety and efficiency when used right. Some carriers even used the data to optimize routes and manage fatigue.

Lesson for Today:

See regulations not just as red tape, but as tools to improve operations. Smart carriers are using reg tech and safety data to earn trust with big shippers—and to stay ahead of the curve.

Rising (and Random) Costs

Fuel prices, maintenance, and insurance costs kept companies on edge. Profit margins were slim, and every penny mattered.

How Carriers Adapted:

Fuel-efficient driving, route planning, and telematics became the go-to tools. Some invested in lighter equipment, and others trained drivers to reduce idle time and fuel waste.

Today’s Opportunity:

Efficiency isn’t a luxury anymore—it’s survival. AI tools, green tech, and predictive maintenance aren’t just “nice to have”—they’re part of staying competitive.

Tech Was Changing the Game

Logistics software, GPS tracking, automation—technology in trucking was evolving fast.

How It Played Out:

Companies that invested in tech were able to deliver more reliably, communicate better with customers, and cut waste. Those who hesitated? They got left behind.

Now’s the Time:

Even small carriers can afford powerful logistics tools. Cloud-based systems are leveling the playing field, and a digital-first mindset is key to long-term resilience.

4. How Customer Expectations Changed Everything

The E-Commerce Explosion

Online shopping wasn’t just a trend—it was a tidal wave. Consumers wanted faster delivery, and trucking companies had to evolve quickly. How Trucking Responded:

More short-haul trips. More regional hubs. More partnerships with retailers. Some firms doubled down on last-mile delivery, while others focused on speed and flexibility.

What It Means Now:

E-commerce is still growing, especially in smaller towns. Micro-fulfillment, smarter routing, and real-time tracking help carriers stay nimble—and earn repeat business.

Just-In-Time Demands

Retailers and manufacturers relied more on just-in-time (JIT) inventory, cutting storage costs but increasing delivery pressure.

How It Worked:

Carriers that could guarantee on-time deliveries got the contracts. Real-time tracking, accurate ETAs, and route reliability became huge selling points.

Modern Takeaway:

JIT is still around—and precision matters. Investing in logistics intelligence helps companies avoid costly delays and build lasting client trust.

5. How Trucking Adapted and Evolved

Solving the Driver Shortage

Driver shortages have been a long-term issue. In 2018 and 2019, the pressure grew. Companies had to rethink how they hired and retained drivers.

What Worked:

Better pay, more respect, newer trucks, and programs aimed at women, veterans, and younger drivers made a difference. Some even introduced mentorships and training paths to grow drivers into long-term careers.

What Works Now:

Drivers want more than a paycheck—they want flexibility, support, and a future. Treating them as partners, not just workers, helps reduce turnover and attract talent.

Boosting Operational Efficiency

Fleets used route optimization, freight matching, and better scheduling to reduce waste and boost productivity.

Ongoing Strategy:

Smarter operations save money. Today’s tools—from AI to mobile apps—let companies react in real time, reduce deadhead miles, and increase profitability.

Managing the Financial Rollercoaster

The 2019 slowdown caught many off guard. Companies with high debt and fixed costs struggled.

Financial Lesson:

Build flexibility into your finances. Lease instead of buy when possible, diversify your customer base, and prioritize cash flow. Resilience isn’t about luck—it’s about planning.

Final Thoughts: Why These Lessons Still Matter

The trucking industry’s experience in 2018 and 2019 was a stress test. It revealed strengths—like the ability to scale and adapt quickly—and weaknesses, like overreliance on spot markets or lack of driver retention.

Today, those lessons are more relevant than ever. Economic uncertainty, labor market shifts, and evolving technology continue to shape the road ahead.

By looking back, we can move forward—with smarter strategies, stronger operations, and more resilient fleets.