The cost-of-living crisis is affecting individuals and businesses alike. The trucking industry is not immune to these economic pressures. Transport operators are feeling the pinch as they grapple with rising fuel prices, increased operational costs and the challenge of maintaining profitability. In these trying times, it’s not just the trucks carrying heavy loads but also the operators managing the financial burdens. The New Zealand Trucking Association (NTA) offers vital tools to help operators unlock hidden productivity and cost savings.

Transport operators in New Zealand are facing a multitude of financial pressures. The surge in fuel prices and increased costs for vehicle maintenance, tyres, parts, capital equipment and labour has significantly impacted their bottom lines. Additionally, the need to offer competitive wages to retain skilled drivers amid a nationwide shortage adds to the financial strain. Some hourly rates have increased as much as 30% in the past couple of years, well ahead of inflation, as operators struggle with staff retention in a constrained labour market.

Recognising these challenges, NTA, in collaboration with the National Road Carriers Association, has been working with Infometrics and Stats NZ to build an interactive tool that will allow operators to see the impact of cost increases on their business. Over 2023, they have developed a customisable cost index specifically for the trucking industry. This tool allows operators to clearly understand their costs in relation to the current economic climate. By inputting specific data about their operations, transport businesses can see a detailed breakdown of their expenses and identify areas where costs can be optimised. The index highlights areas where operators can reduce expenses and enables operators to benchmark their costs against industry standards to gain a competitive edge.

For those seeking a more comprehensive analysis, NTA offers cost-modelling services to full members. This involves a detailed examination of a business’s financial operations by industry experts. The outcome is a bespoke report that identifies cost-saving opportunities and suggests strategies for enhancing productivity and efficiency. It aids in long- term strategic planning by providing a roadmap for financial efficiency. The report offers recommendations for streamlining operations, potentially leading to significant cost reductions. By reviewing and optimising costs, transport operators can offer more competitive pricing or renegotiate rates with clients, gaining an edge in a challenging market.

Rising fuel prices have become a significant concern for the trucking industry, directly impacting operational costs and profitability. NTA offers its members an incredibly competitive fuel scheme. This exclusive programme is designed to alleviate the financial burden of high fuel costs, providing substantial savings that can make a real difference to the bottom line of trucking businesses. NTA membership grants free access to this fuel scheme, presenting a valuable opportunity for operators to mitigate one of their most significant expenses. By taking advantage of this offer, members can enjoy the benefits of reduced fuel costs.

Beyond individual cost savings, the collective benefit of these NTA initiatives for the trucking industry cannot be overstated. By empowering operators with tools like the customisable cost index and cost modelling services, NTA is cultivating a more resilient and adaptive industry. These resources enable operators to not only navigate the immediate challenges of the cost-of-living crisis but also to position themselves for future growth and sustainability. The ripple effect of this empowerment is significant – as individual businesses streamline their operations and reduce costs, the entire industry benefits from increased competitiveness and stability. This collective strengthening of the industry is essential in an economic landscape marked by rapid changes and uncertainties. By staying ahead of these challenges with the NTA’s support, New Zealand’s trucking businesses are setting a benchmark for operational excellence and economic resilience.

For more information and to access these valuable tools and fuel schemes, members of the trucking community are encouraged to contact the NTA.