Old Dominion Freight Line will implement a 4.9% general rate increase effective December 2, applicable to its existing tariffs. This decision, announced by VP Todd Polen, aims to partially address rising costs associated with real estate, equipment, technology, and employee compensation. The timing of this increase is a shift from previous years, reflecting the company’s economic forecasts and competitive landscape, as similar hikes have been made by industry peers. The impact will vary by customer, based on shipment specifics, with adjustments to minimum charges for various lanes.
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