Old Dominion Freight Line Inc. on Thursday announced a general rate increase of 4.9% effective Jan. 3. “The general rate increase is based on the Company’s economic forecast and expectations for the operating environment,” said Todd Polen, vice president for pricing services at the Thomasville, N.C.-based company. “We must continue enhancing our high-quality service network and systems to meet and exceed our customers’ expectations and deliver on our promises.” The general rate increase will impact class tariffs and aims to partially offset the impact of rising real estate costs, said Polen. Old Dominion Freight Line is one of the biggest less-than-truckload motor carriers in North America. The stock was not yet active premarket, but has fallen 14% in the year to date, while the S&P 500 has fallen 16%.
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