The Upply x Ti x IRU European road freight rates index for Europe shows that the spot rates index moved further below the contract rates index in Q3 2023. The spot index fell for the fourth consecutive quarter, while the contract spot index climbed for the first time since Q4 2022.
The Driver Shortage Report Passenger – Europe 2023 outlines the current and forecasted shortage of drivers, including a brief view on the level of access and attractiveness of the profession for women, young people and third-country drivers.
2023 Q2 rates data suggests that short-term road freight demand is down with high consumer prices and lagging wages pushing down demand for the distribution of goods throughout Europe, resulting in further falls in freight rates on the spot market.
The Upply x Ti x IRU European road freight rates index for Europe shows that spot rates fell by 2.4 index points in Q4 2022 vs Q3. This represents the first fall in the spot index since Q1 2020, but spot rates still remain up 18.1 points on Q4 2021. Meanwhile, the contract rates index rose 0.4 points quarter-on-quarter in Q4 and contract rates are now up 19.0 points year-on-year.