Old Dominion Reports General Rate Increase - Quick Facts

(RTTNews) - Old Dominion Freight Line Inc. (ODFL) announced a general rate increase of 4.9 percent applicable to rates established under the existing ODFL 559, 670, and 550 tariffs, effective January 3, 2022. The company said this general rate increase will affect its class tariffs and is intended to partially offset the rising costs of real estate, new equipment, technology investments, and competitive employee wage and benefit packages.

"Although the GRI will impact each customer differently based on specific shipment lanes and distance traveled, it is consistent with our long-term yield management philosophy and the overall impact of the increase is anticipated to be approximately 4.9 percent," said Todd Polen, Old Dominion's Vice President - Pricing Services.