A Year in Review: The Car Shipping Industry in 2023

A Year in Review: The Car Shipping Industry in 2023
Published on December 19, 2023

The car shipping industry is bidding 2023 a final farewell on New Year’s Eve, yet in a rather special method. On this occasion, it is time to review how the industry was doing during 2023 and what major events influenced its performance.

First, this year saw significant advancements in various technological innovations with increased interest in employing these innovations in the industry. Analysts have been studying technology’s impact on car shipping, and debates have arisen on whether it will enhance work efficiency and increase revenue in return or decrease demand.

While both viewpoints seem logical, it is fair to say that part of the first theory is what is actually achieved in 2023. Artificial Intelligence has made a significant breakthrough that has raised businesses’ concerns about being replaced by this technology.

However, AI has not developed yet to the level of replacing humans, and companies started to take proactive procedures in responding to challenges posed by AI, mainly through adopting this technology and incorporating it into their work operations. By doing so, car shipping processes became more efficient for companies and easier for clients.

Another trendy topic in the car shipping industry in 2023 was the impact of the auto development on car shipping, especially autonomous vehicles. Several scenarios envision the future of car shipping when AVs take over. While AVs are sure to reshape the industry, it remains unclear whether they will replace the need for car shippers altogether.

2023 Car Shipping Statistics

In 2023, industry research shows how the car shipping industry has been performing:

  1. The car shipping industry has seen a decline in revenue by 4.9%, estimated at $9.9 billion as of 2023.
  2. Employment rates in the car shipping industry have also declined by 5.5%, with the estimated number of registered employees reaching around 38,108.
  3. The number of businesses in the car shipping industry grew by 5.3%, with 5,919 businesses in the United States.
    The moderate market share concentration in the industry is an encouragement for many car shipping companies to enter the market. However, internal competition is fiercer than in other industries, primarily focusing on price, service quality, and reliability.

Tempus Logix in 2023

2023 was a productive year for Tempus Logix, during which the company has achieved outstanding results, including:

  1. Tempus Logix was celebrated as a ‘Platinum Power Broker’ in the car shipping industry.
  2. 94% of the company’s customers are satisfied with its services and are willing to use them again.
  3. The company had a low cancellation rate of only 3%.
  4. The company received thousands of positive reviews on various platforms, including Google, Facebook, and Trustpilot.
  5. The company set a new record for successful deliveries of over 90,000 vehicles and drove 130 million miles.
  6. Tempus Logix became a top-rated car shipper on the Uship Load Board.

Besides, Tempus Logix has expanded its investments in its tools for a more effective shipping process and extra convenient experience. It has improved its online AI-based cost calculator to allow customers to request an immediate quote for shipping a motorcycle, UTV, or ATV. Tempus Logix also started accepting online bookings without upfront payment by the end of this year.

Overall, 2023 was a good year for the car shipping industry, especially with the technological trends that maximized work efficiency. The industry mainly witnessed hundreds of new businesses entering the market. Current trends and data show that the following years will be promising for strong growth. 

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