The TEG Price Index, which tracks the average prices paid for road transport services in the UK, rose 2.2 points (1.73%) to 129.4 in November, marking the most substantial November rise since the index launched in 2019.
The Haulage Index was equally buoyant last month, rising 2.3 points (1.83%) to reach 128.1 with an identical year-on-year haulage increase of 2.3 points and 1.83%.
The November increase for artic vehicles was 2.2 points (1.9%), mirroring overall haulage growth.
Meanwhile the Courier Index rose by 2 points (1.56%) last month to reach 130.6, resulting in a slightly stronger 3.3-point (2.59%) annual rise.
November saw a significant 22.4% fall in carrier availability, in contrast to the previous two months which showed strong growth in carrier availability – including a 21.7% increase in October alone.
Meanwhile, overall transport demand continued to increase - and for specific vehicle types - which the report said suggested a push ahead of Black Friday as companies moved large goods to distribution centres.
Overall carrier demand rose 4.79% in November, while demand for artic vehicles increased 8.32%. As a whole, haulage demand rose 2.62%.
The report noted: “At a time when the RHA reports that around 100,000 HGV drivers have allowed their Driver Qualification Card (DQC) to lapse in the last year, and when average HGV salaries are up 9.26%, November’s TEG Index suggests 3PLs are leveraging more and more third-party partnerships to fulfil increasing demand.”
Turning to the impact of Black Friday the report pointed to DHL’s eCommerce Trends Report which recently revealed 84% of online retailers were banking on a sales surge in November and a prediction from PwC that Black Friday spending would reach £6.4bn in 2025, 1.5% higher than last year.
The report commented: “It’s too early to know whether those precise predictions have materialised, but despite continued Budget apprehension throughout November and measures announcing cost of living hikes for most people, Black Friday purchases were alive and well.
“Early TEG data shows healthy transport demand. Elsewhere, Nationwide Building Society published live data throughout Friday 28 November and, by 4pm, its customers had made 7.3 million transactions since the beginning of Black Friday – a 9.18% jump vs Black Friday 2024.
“What we’re yet to understand is the total value of consumer transactions. But even if people have bought lower value items, the volume looks to have been there for transport providers. If history is to be trusted, our sector should expect a busy December.”
