ECG, the Association of European Vehicle Logistics, has published its latest Confidence & Cost Trend Survey results and the vehicle logistics businesses that make up the membership are reporting some significant positive trends.
This regular quarterly survey has been carried out for 4 years now and 2013 results show several strong trends developing. The latest results show almost 70% of members plan to invest in trucks and almost 50% in recruiting truck drivers in the next six months. This strong signal is clearly linked to the most positive outlook in years in terms of volume growth expectations with 58% of respondents expecting growth in volume over the next 6 months. No wonder these companies are also reporting a far more optimistic commercial outlook than at any time since the crisis.
The sector’s ability to raise funds from banks in order to finance these new investments is also on the rise – a slower and more moderate growth but a trend that commenced at the beginning of 2013. ECG is extremely pleased to note this apparent easing in investment ability but notes that there is still a significant part of the sector struggling to raise the funds needed for expansion.
2013 also marked a welcome period of stability in fuel costs and this undoubtedly contributes to the more optimistic outlook in the industry.
ECG President Costantino Baldissara said “The Confidence & Cost Trend Survey has been conducted regularly among ECG members since 2010 in order to track the sector’s performance and the general sentiment for growth, costs and investments. The results of the last four years demonstrate that the Survey is an ideal tool to follow the positive and negative impacts the industry is facing and to identify market trends.”