Q2 2024 Freight Rate Report

In the first quarter of 2024, the truckload market experienced unusual volatility, especially during its typically “quiet season.” January saw an unexpected tightening in the market due to severe winter storms and a federal holiday, but this growth proved to be a bull trap as improvements in tender rejections and spot rates reversed in February. Despite this, demand from shippers grew consistently compared to 2023, with a notable 2.8% increase in retail sales, particularly in e-commerce. While an excess of capacity continued to pressure tender rejections and carrier rates, the expected mass exodus of carriers did not materialize, and some even saw net gains in trucking authorities in March.

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What's the SONAR ROI?

By increasing the number of loaded miles per day your drivers drive by 1% and your rate per mile by $0.03 you will make more per week #WithSONAR.

#WithSONAR you can save up to per week through better bid negotiations and more effective management of your routing guide.

#WithSonar you can add 1 more load per person each day and increase $5 margin per load, earning your company an extra per week.

Disclaimer: Every company’s circumstances are unique. Fixed and variable expenses, market conditions and operational factors vary. Unforeseen events may also affect results. Calculated potential results reflect the consensus expectation of FreightWaves’ experts. Actual results may vary.

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