2024 RHA Annual Cost Movement Survey and Report

With a stagnant economy showing little growth, this has been another difficult year for operators across our sector. Last year saw nearly 500 businesses collapse and this year more previously successful firms have followed. With profits lower and overall running costs higher, the recent Budget fuel duty freeze until March 2026 will help hauliers, but other burdens have been placed on businesses such as the rise in employers' national insurance contributions which means operators will have additional financial considerations in the months ahead.

RHA Managing Director Richard Smith said: “In our wide-ranging survey, our members have painted a clear picture of the current challenges facing our industry. They’re telling us that running costs are too high and 66% of hauliers tell us they're concerned about the state of the economy.

“With further companies sliding into administration this year and with rising costs and much lower profits, businesses are now having to make savings wherever possible.

“If the Government is serious about its objective of economic growth, they’ll have to work collaboratively with an industry that’s crucial to delivering it. We want to work with them to lower the costs and regulatory burdens placed on our key sector.”

Survey findings 

The 2024 RHA Annual Cost Movement Survey results highlight that increasing cost pressures continue to impact operators. Pre-tax profit now stands at just *1.58%. 

This is compared to profit of *2.60% the previous year. (*The Motor Transport Top 100 results.)  

Our survey results show us that the cost of operating is pushing ahead of inflation and overall costs including fuel increased by 3.51%. 

Many operators however have fuel escalators, and so the increase for them this year excluding fuel, was 5.95%. *For example: Annual costs for a 44-tonne model (excluding fuel) stands at £160,604*. 

This is a cost increase for operators of £9,025 on the previous year.

The full 2024 RHA Annual Cost Movement Survey and Report can be found HERE