Old Dominion Freight will increase its base rates by about 4.9 percent on July 1.
According to officials, the new rates will offset new equipment costs, preserve competitive waves and healthcare for workers, and leave room for a “nominal increase” on lane charges.
“We are sensitive to our customers’ budgets, and we are always reluctant to raise our rates,” Old Dominion’s vice president of pricing, Todd Polen, said in a statement. “This increase is in line with our long-term pricing philosophy and involves a restructure that provides for an increase based on length of haul rather than a traditional across the board increase.” – Jon Ross
Old Dominion to up rates 4.9%
