Thomasville, N.C.—July 23, 2012—Old Dominion Freight Line Inc. will initiate an approximate 4.9 percent increase to its base rates, effective August 6. The exact increase may differ for customers based on a number of variables, including the lanes utilized and the distance shipments move.
“We’re naturally sensitive to our customers’ budgets,” said Todd Polen, Vice President of Pricing, Old Dominion Freight Line Inc. “Raising our rates is something we do reluctantly and after considerable analysis. We’re taking this action to ensure that our services remain best-in-class.”
Old Dominion will use the increase to offset rising costs. The tariffs affected by the increase are the ODFL 559/555 and the 505 Canadian tariffs. The rate increase will also provide for a nominal increase in intrastate, interstate or cross-border lane charges.
“We continually reinvest in our business,” said Polen. “This modest increase will enable us to absorb the rising cost of new equipment and escalating insurance costs while maintaining competitive wages and benefits for our employees.”