Demand weakens road freight market
Road freight rates in Europe declined in Q1/2025, according to the latest Upply x Ti x IRU index.
The contract rate index dropped by 2.3 points quarter-on-quarter to 131.1 points, while the spot-rate index fell by 3.8 to 134.1 points. Despite these declines, spot and contract rates remained slightly higher, year-on-year.
According to Upply, the downturn reflects weaker consumer demand, slower cost growth and concerns about tariffs, all impacting freight volumes. Ongoing challenges such as the driver shortage – 426,000 vacancies in Europe – also affect the market.
“The European road transport market is once again going through a complex phase, as major uncertainties in global trade are likely to weaken the still fragile economic recovery,” as Upply CEO Thomas Larrieu stated. (js)