Summary results LPT Q1 2023
Key findings:
Business prices and impacts
- An increasing proportion of transport and storage firms are experiencing higher input costs while being unable to raise the prices of their services.
- 68% of transport and storage firms have reported unchanged turnover in September, which has increased from 42% in August.
- The findings reflect a mixed outlook for logistics businesses in Q2 2023, with some areas expected to improve, such as fuel prices, driver and general staff availability.
Fleet size and parked-up vehicles
- 27% of respondents reported more HGVs parked up in Q1 2023 compared to the same time last year. As the driver shortage begins to stabilise and companies adapt, more vehicles are in use.
Supply chain issues and freight rates
- The number of vehicles travelling to Europe in the second quarter of 2022 was 831,000, 8.2% in Q2 2021.
- Respondents continue to report delays in suppliers receiving vehicle parts. 46% respondents experienced delays in receiving goods in Q1 2023, which is an improvement on Q3 2022 when 69% reported this issue.
- Freight rates across all modes are expected to increase in Q2 2023 compared to Q1 2023.
Staffing and skills
- Difficulties in filling HGV driver continues to ease, with 3% reporting a very severe problem in Q1 2023 compared with 11% in Q3 2022.
- 90% of respondents report enduring problems filling vacancies for mechanics, slightly down from 95% in Q3 2022.
- Fewer respondents (38%) intend to raise driver pay in the next six month compared with 55% in Q3 2022. This follows a couple of years of significant pay increases for drivers.
