The Association of European Vehicle Logistics (ECG) reports positive trends amongst its members, following the results of its latest quarterly Confidence and Cost Trend Survey.
While the full details of the report are reserved for ECG members, the association said the results show that almost 70% of its members plan to invest in trucks and almost 50% will invest in truck drivers in the next six months. This corresponds with a positive outlook gleaned from the results of the survey, which indicated that 58% of respondents are expecting growth in volume of the next six months.
"The sector's ability to raise funds from banks in order to finance these new investments is also on the rise," said the ECG in statement. "[It is] 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."
According to the report, 2013 marked a welcome period of stability in fuel costs that contributed to a more optimistic outlook in the industry.
ECG president Costantino Baldissara (pictured) said: "The Confidence and 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."
