Old Dominion Freight Line announced a general rate increase of 3.5% applicable to rates established under the existing ODFL 559, 670, and 550 tariffs effective September 1, 2017. Todd Polen, Old Dominion's vice president of pricing commented, "At Old Dominion, we are committed to delivering our superior value proposition of on-time, claims-free service at a fair price. In order to satisfy our customers' expectations and deliver on the promises we have made, we must continue to enhance our high-quality service network and systems. Our GRI will affect our class tariffs and is intended to partially offset the rising costs of new equipment, real estate, technology investments, and competitive employee wage and benefit packages. The GRI also provides for a nominal increase in minimum charges with respect to intrastate, interstate and cross border lanes."
