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However, due to waning demand and improvements in the availability of various auto parts, motor carriers and other logistics entities should be able to make some headway in 2023. According to industry experts, several leading original equipment manufacturers (OEMs) have been able to scale up their production due to growth in semiconductor development, the lifting of social distancing measures in overseas markets and a slowdown in orders.
Jerry Revich, head of U.S. machinery, infrastructure and sustainable tech research at Goldman Sachs, told Transport Dive that for the most part, the worst of the parts backlog is in the rearview mirror.