As any fleet manager is aware, there are a variety of tax implications that come with overseeing a fleet of vehicles. Beyond the usual income tax and business taxes that your business pays annually, fleets have responsibilities in fuel tax reporting, particularly if your drivers are crossing state lines while on the job. When you partner with a fleet card company, the data provided to you can make this burdensome set of tasks feel a whole lot lighter. How does fuel tax reporting work? Most trucking businesses – those in class seven or eight – drive in multiple states. When your vehicles enter ..read more

Nearly three-quarters of all freight in the United States is moved by the trucking industry. The American Trucking Association reports revenue of $875 billion from U.S. freight trucking in 2020 alone, supported by 39 million trucks traveling 302 billion miles. Trucking fuels our economy, and U.S. fleet companies understand that ongoing maintenance is critical to their business and long-term financial strategy. Ongoing maintenance is especially important as diesel fuel prices continue to rise, hitting $4.49 per gallon as of September 4, 2023, according to the U.S. Energy Information Administrat ..read more

Evans Delivery, a family business at heart At Evans Delivery, people stay true to their origins and treat partners as members of an ever-growing family. The transportation and logistics company was founded in 1939 in Pottsville, PA and has since expanded considerably. In its early years, Evans Delivery performed local deliveries, Sears Home runs, and warehousing. Today, it is one of the largest intermodal drayage providers in the U.S. and has 750 agent locations nationwide. “What we really do is support entrepreneurs, we’re an agent-based business,” says Brian Frey, chief financial officer at ..read more

Advisory boards serve as a point of connection and innovation between your internal stakeholders, customers, and partners. Boards enable a level of cooperation and insight across a number of segments that help you discover, develop, and deploy new products strategically. Here, we’re talking about all things advisory boards including why they are such a valuable feature within an organization, what they can help to achieve, and even a brief history of WEX’s advisory boards. We’ll use the advisory board we formed for our trucking/over-the-road (OTR) line of business as a case study. What is an a ..read more

Women’s History Month is a time to honor great women in history and in our lives today. WEX’s history as a fleet company started when the company was founded as a family business in 1895. Originally known as A.R. Wright, WEX’s root business was focused on coal and heating oil. Because of this deep, historic connection to the fleet industry, we’ve had the opportunity to see women across the industry take hold as leaders over the years. During Women’s History Month at WEX we celebrate notable female leaders in the fleet industry starting with last week’s story about Vickey Patterson and continui ..read more

With 14 million vehicles sold in the United States in 2020, the health of the tire market is critical to the fleet transportation economy. The value of the replacement tire market alone was $43 billion USD in 2019. Tires are one of the largest expenses for fleets today, and the trend seems to be rising across the globe. According to Tire Business, increases in operational and supply chains, transportation, labor, and raw materials are all contributing to these market conditions. The US relies heavily on tire imports from other countries to keep vehicles on the road. Japanese corporation Bridge ..read more

With the trucking industry experiencing rising prices of everything from windshield wipers, to fuel, to labor, many fleet business owners and managers are having a difficult time keeping their operations running smoothly and effectively. In these uncertain times, understanding the complexities, and considering creative ways to manage your fleet can help improve your bottom line and keep your fleet moving. According to the American Trucking Associations’ Technology & Maintenance Council and Decisiv Inc Benchmarking Report, “Maintenance costs rose 3.7% in the third quarter of 2022, and are u ..read more

With the global supply chain crisis continuing to plague the trucking industry, one alarming impact on fleet businesses is the drastic increase in demurrage fees. From our research, we found that demurrage fees have escalated 3,000 times that of pre-pandemic levels. One of our larger customers was averaging $2-3 million/year in demurrage fees. In today’s world, they are now averaging over $150 million in fees annually. What is a demurrage fee? A demurrage fee is a charge extended to a carrier or supplier when a shipping container is not moved out of the port or terminal for unpacking within an ..read more

Endrea and her dog, Sanza in front of their CFI truck Endrea Davisson has known she wanted to be a long-haul truck driver since she was a child growing up in Cushing, Oklahoma, and road shotgun on long haul trips with her dad. After raising her family and sending them off into the world, now settled down with families of their own, Davisson turned to her husband, Jim, also a truck driver and said “Honey, I want to get on the road and be a driver.” Right away he replied, “Let’s make that happen for you.” After researching the different trucking companies she decided to settle in with a place ..read more

Are you thinking about starting a trucking company? Have you been driving a truck for some time now, and become really good at it? Because you know the industry well, and have confidence that you can make it as not just a driver, but as a business owner now may be the perfect time to set up your own over the road trucking business. There are more than a million trucking companies in the U.S., the vast majority of which, 90 percent or more, are operating six trucks or fewer. According to statistics shared by the American Trucking Association: 70% of all freight in the United States is current ..read more