Less-than-truckload carriers continue to report a slump in demand for their services and are getting increasingly competitive on cost, say market watchers.
The housing and general economic slowdown in the U.S. is making LTL carriers increasingly concerned about their volumes, while higher gas prices hit their margins.
In a recent interview with Dow Jones Newswires, Bill Zollars, CEO of LTL trucking firm YRC--which owns brands Yellow Transportation and Roadway--said he hasn't seen signs yet that suggest when the market might improve.
"It's gotten a little bit worse every month, and unfortunately that continues," he says. "We haven't seen the bottom of this thing yet."
In a separate interview, Zollars said that pricing at the regional operations of the LTL carrier has caused some "self-inflicted wounds" and YRC is rectifying this by "firing some customers."
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