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Freight market forecast for 2024


Mr. Smith

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The market has favored shippers, as capacity additions by private fleets last year weighed on for-hire fleets, but most recent Class 8 tractor order and sales data show a decline in equipment additions, a requisite for rates to improve meaningfully. Though fleet capacity growth has delayed the recovery in rates, the improving supply/demand balance suggests the worst is in the rearview, and the cyclical recovery should continue.

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