Uber Freight Q3 Market Report: Looking towards momentum and recovery
Even as fleets are ordering fewer trucks and reducing their headcounts, truckload supply & demand remains higher YoY while routing guide performance is still robust
Uber Freight released its Q3 Market Update and Outlook Report, revealing our biggest takeaways for shippers and carriers.
Heading into the second half of the year, the freight market has largely stabilized, while supply and demand remained consistent with previous months.
Even in a soft market, logistics teams should always be prepared for a potential market turn later in the year. The key to staying ahead of disruption and remaining competitive is to build and maintain a proactive, data-driven logistics program. Our latest Quarterly Market Update and Outlook Report shares data and insights from our experts around the impacts of leading economic and supply chain trends, helping logistics teams stay informed and prepared for potential volatility.
For Q3, Uber spotlight insights around supply and demand, and route guide performance in the U.S. truckload sector; the latest LTL market trends; and key factors impacting cross-border transportation.
Key highlights include:
- Even as fleets are ordering fewer trucks and reducing their headcounts, truckload supply & demand remains higher YoY while routing guide performance is still robust
- After a tumultuous 2023, the LTL space is showing signs of positive momentum with a rebound forecast for early 2025.
- Spot rates rose in May and June in line with seasonal expectations, but then fell sharply following the Fourth of July peak – leading us to expect a slow, supply-driven recovery in H2.
Category: Driver Stuff, Equipment, Featured, General Update, Management, News, Safety, Training, Transit News, Vehicles
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