Long Distance General Freight Trucking NAICS 484121, 484122

Jan 20, 2026 - FedEx Freight Set to Debut in June 2026

• FedEx announced June 1, 2026 as the date for its spin off of FedEx Freight into its own publicly traded company. As the largest less-than-truckload (LTL) carrier in the US, FedEx Freight moves shipments for retailers, manufacturers, and other shippers, handling goods that are too big or bulky for standard parcel delivery. The spinoff marks a major shift in the LTL market, creating a standalone operator with the scale to compete more directly on pricing, service, and efficiencies. Industry analysts expect the move could lead to higher valuations for other LTL carriers and pressure competitors to streamline operations or pursue M&As. With the new company focused solely on freight, shippers may benefit from more specialized service options, while other LTL carriers will face a market where one of the biggest players is no longer a cog in a bigger machine fighting for resources against FedEx Express and Ground.
• US truckload spot freight rates remain deeply underwater versus inflation, trailing the Consumer Price Index by roughly 25-27% since March 2020, according to FreightWaves. As of January 2026, the national spot rate stood at about $2.75 per mile, but keeping pace with inflation would put it closer to $3.50 per mile. That gap has crushed carrier margins as fuel, insurance, maintenance, driver wages and regulatory costs surged, forcing many owner-operators and small fleets to run at breakeven or exit the market. After falling through 2023 and much of 2024, spot rates rebounded to multi-year highs in late 2025 and early 2026, driven by seasonal demand, winter disruptions and tightening capacity. With attrition accelerating and enforcement intensifying, a looming capacity crunch could finally give spot rates the leverage to start closing the inflation gap in 2026.

• The US Department of Transportation (DOT) has announced a major crackdown on truck driving schools, threatening to revoke accreditation for nearly 3,000 programs and warning roughly 4,000 more that they could face similar action if they don’t meet federal standards within 30 days. These schools represent over 40% of the nation’s roughly 16,000 authorized training providers, and DOT officials claim many have falsified training data, failed to follow curriculums, and lacked qualified instructors. The move is part of a broader effort by DOT secretary Sean Duffy to tighten oversight of the industry and ensure that drivers are trained and qualified for commercial licenses. The campaign comes alongside proposals to impose stricter rules on which immigrants can obtain a commercial driver’s license, a focus that critics argue amounts to an immigration crackdown. Supporters say improved training will boost road safety, while opponents say the administration’s justification lacks evidence.
• The less-than-truckload (LTL) freight market disappointed in 2025, with volumes remaining soft and growth more muted than expected as broader trucking demand weakened from tariffs after a prolonged freight downturn. The 2023 collapse of Yellow Corp. had briefly insulated other LTL carriers, but in 2025 even major players felt the slowdown, citing weak industrial demand, high interest rates and tariff uncertainty. Pricing discipline largely held, helping carriers avoid destructive rate competition. A notable positive was the smooth rollout of National Motor Freight Classification (NMFC) updates in July, with early customer education and updated tools easing the transition. Some macro indicators offer cautious optimism, including slightly lower interest rates and steady retail sales, but executives say clear signals of a near-term rebound are lacking. Overall, carriers are operating cautiously in a shallower pool of activity, awaiting clearer economic improvements to boost shipment levels.