4.9% GRI Effective 5/29/17May 23, 2017 Technology
The costs of operation continue to increase in almost every business and industry. Therefore, every business must occasionally raise their prices in order to continue operating. To compensate for a number of increased costs in our industry, we are today announcing a 4.9% general base rate increase (GRI) for U.S. domestic and for U.S./Canada business that will apply for all non-contractual accounts.
Some of the specific reasons for this increase include:
Safety – We are adding more driver-safety systems, including active braking and lane-departure warning. These features help keep everyone on the road, and your freight, safe. They will also reduce our underlying cost structure and defray some future inflationary pressures.
Compliance – Enforcement of the new Electronic Driver Log Federal mandate begins at the end of this year. Complying with this mandate required a very large investment both in technology and training.
Service Enhancement – We deployed new handheld devices throughout our fleet. These devices will make our drivers more efficient, enable them to better respond to customer needs, and provide you with up-to-the-minute, 24/7 details on shipment status.
Staffing – Finding and keeping transportation professionals is costly. The continued driver shortage requires us to offer very competitive pay and benefits to ensure having enough drivers with the needed safety, operational, and customer service skills.
New Penn has been providing transportation services for over 85 years. Our relentless efforts to secure our position as the leading LTL carrier in our region have earned us many awards. We are particularly proud of being recognized over 20 times for Logistics Management magazine’s annual Quest for Quality award for performance excellence. Maintaining this award-wining level of service for our customers requires occasional adjustments to our rates.
Please contact your New Penn Account Executive if you have any questions about the new rates, how to obtain them for your internal rating systems. The new rates will be available for download on 5/26/17.
We thank you for your business and we appreciate the opportunity to serve you and your business needs.
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