Amidst an increasingly bleak global economic outlook, IRU is calling on governments to ramp up efforts to support road transport operators so they can drive broader financial and social recovery.
The global economy is projected to contract sharply by up to 8% in 2020, according to the World Trade Organization, with global trade decreasing by up to a third.
Road transport services underpin all economic activity, as the foundation for all intermodal supply chains and mobility networks. New findings however reveal the scale of the impact the pandemic has had on the over 3.5 million companies that provide road transport services around the world.
Passenger transport operator revenues have been decimated by up to 100% during the confinement period, compared to the same period last year. This ranges from 50% for urban bus, up to 80% for scheduled intercity services, and up to 100% for tourist and cross-border coach services.
Goods transport operator revenues have declined by up to 40% during the confinement period, although some freight segments have also been decimated, such as clothing, flowers, automotive parts and construction materials.
“All over the world, commercial road transport companies, including millions of small and medium-sized firms, are struggling” said Umberto de Pretto, IRU Secretary General. “Their most pressing problem is liquidity and many are now on the brink of bankruptcy, with financial difficulties expected to continue at least until 2022.”