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October data from the TEG Road Transport Price Index shows a considerable drop in the average price of haulage and courier vehicles over the course of the month. The overall price per mile for haulage and courier vehicles decreased from 123.3 to 120.5, a drop of 2.8 points. This is the largest fall in overall prices since February 2023.
This price drop was largely led by the change in haulage prices from 118.4 to 114.9. Courier prices also fell, although less significantly, down to 125.5 from 127.4.
Year on year, the overall price is down 3.6 points, with a similar decline in both haulage and courier prices.
The TEG Road Transport Price Index provides a monthly overview of the price-per-mile cost for vehicles used in the UK's haulage and courier industry. This index considers various factors, including supply and demand levels as affected by Brexit, Covid-19, driver shortages, and other economic factors.
Stay up-to-date on the latest trends and pricing in the UK's road transport industry by following the TEG Road Transport Price Index.
The TEG Road Transport Index: Accurate Tracking of Price per Mile
The TEG Road Transport Index is a comprehensive tool that uses an arithmetic weighting system to track changes in Price per Mile (PPM) each month. The index is based on a January 2019 baseline and uses the Paasche formula to apply weighting according to the mileage mix from each vehicle type. This ensures that each month's PPM is compared accurately with the base month. Stay informed with the industry's leading metric for transportation costs.
The data is gathered, anonymised, and aggregated from over two million spot market loads transacted across the TEG platforms, before being validated, analysed and published.
PPM = (sum order values) / (sum order miles)
Sample size is circa 2m orders per annum across c. 8,000 participants.
Data ID: A3, B3, C3