Ryder Rolls Out Carrier Loyalty Program for Freight Brokerage

Rhea-AI Summary

Ryder System, Inc. (NYSE: R) has announced the launch of its Freight Brokerage Carrier Loyalty Program, designed to reward carriers engaged with Ryder's brokerage division through the Trucker Tools app. This program offers tiered discounts of up to 22% on used vehicle purchases based on the level of engagement with Ryder. The app provides features like digital trip planning, shipment visibility, predictive freight matching, and automated booking solutions. Kevin Clonch, group director of transportation management, emphasized the importance of rewarding carriers' loyalty and enhancing service quality. This initiative aligns with Ryder's strategy to leverage innovative technology, reinforcing its commitment to providing excellent service and growing its freight brokerage business.

Positive

• Launch of Freight Brokerage Carrier Loyalty Program to reward carriers.
• Tiered discounts up to 22% on used vehicle purchases based on engagement.
• Enhanced service quality through the Trucker Tools app, increasing carrier loyalty.
• Collaboration with Trucker Tools aligns with Ryder's technology-driven goals.

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• None.

MIAMI--(BUSINESS WIRE)-- Ryder System, Inc. (NYSE: R), a leader in supply chain, dedicated transportation, and fleet management solutions, announces Ryder’s Freight Brokerage Carrier Loyalty Program, a new points-based program for carriers with Ryder’s freight brokerage division that book and track loads through the Trucker Tools app. The app provides digital trip planning, shipment visibility, predictive freight matching, and automated booking solutions. Based on the level of engagement with Ryder on the platform, carriers with Ryder’s freight brokerage may earn tiered discounts of up to 22% on used vehicle purchases from Ryder through the end of the year.

Ryder announces its new Freight Brokerage Carrier Loyalty Program, a points-based program for carriers with Ryder’s freight brokerage division that book and track loads through the Trucker Tools app. Based on the level of engagement with Ryder on the platform, carriers with Ryder’s freight brokerage may earn tiered discounts of up to 22% on used vehicle purchases from Ryder through the end of the year. (Photo: Business Wire)

“We want to reward our carriers for consistently and continuously moving freight with Ryder freight brokerage, while helping them grow their fleets,” says Kevin Clonch, group director of transportation management at Ryder. “Carriers are critical to ensuring we can deliver on our promises to our customers, so we strive each and every day to be a shipper of choice. And we do that by providing concierge-level service coupled with digital tools that help carriers maximize uptime and revenue.”

With Ryder’s Freight Brokerage Carrier Loyalty Program, carriers are automatically allocated to one of three tiers based on their current level of engagement with Ryder on Trucker Tools. Then, for every load carriers book and track with Ryder freight brokerage on the Trucker Tools app, they earn additional points toward potentially qualifying for a 5%, 15%, or 22% discount off the advertised price of Ryder’s used vehicles through the end of the year.

“Our collaboration with Trucker Tools aligns with our strategy of engaging innovative, forward-thinking technology providers that can further enhance our service and product offerings for both carriers and customers in our freight brokerage division,” adds Clonch.

Last year, Ryder announced the expansion of its freight brokerage business with a new office in Nashville, Tennessee. The expansion is part of the company’s strategy to grow its broader transportation solution, which offers customers flexibility with several levels of service and capacity, from freight brokerage to transportation management and dedicated transportation.

Carriers can find more information about the Ryder Freight Brokerage Carrier Loyalty Program, including terms and conditions, on the Trucker Tools app, along with the largest selection of reliable used vehicles in the industry.

“Ensuring our carriers have access to dependable, well-maintained vehicles is a win-win for Ryder and our carriers,” continues Clonch. “More than 95% of our used vehicles have had only one owner, Ryder; and, they’ve been maintained by our expert technicians.”

About Ryder System, Inc.

Ryder System, Inc. (NYSE: R) is a leading logistics and transportation company. It provides supply chain, dedicated transportation, and fleet management solutions, including warehousing and distribution, e-commerce fulfillment, last-mile delivery, managed transportation, professional drivers, freight brokerage, full-service leasing, maintenance, commercial truck rental, and used vehicle sales to some of the world’s most-recognized brands. Ryder provides services throughout the United States, Mexico, and Canada. In addition, Ryder manages nearly 260,000 commercial vehicles and operates approximately 300 warehouses encompassing more than 95 million square feet. Ryder is regularly recognized for its industry-leading practices in third-party logistics, technology-driven innovations, commercial vehicle maintenance, environmental stewardship, corporate social responsibility, world-class safety and security programs, military veteran recruitment initiatives, and the hiring of a diverse workforce. www.ryder.com

Note Regarding Forward-Looking Statements: Certain statements and information included in this news release are "forward-looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995. These forward-looking statements, including our expectations with respect to the Ryder’s Freight Brokerage Carrier Loyalty Program, are based on our current plans and expectations and are subject to risks, uncertainties and assumptions. Accordingly, these forward-looking statements should be evaluated with consideration given to the many risks and uncertainties that could cause actual results and events to differ materially from those in the forward-looking statements including those risks set forth in our periodic filings with the Securities and Exchange Commission. New risks emerge from time to time. It is not possible for management to predict all such risk factors or to assess the impact of such risks on our business. Accordingly, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

ryder-dts

View source version on businesswire.com: https://www.businesswire.com/news/home/20230412005031/en/

Anne Hendricks

(305) 500-4547

amhendricks@ryder.com

Amy Federman

(305) 500-4989

afederman@ryder.com

Source: Ryder System, Inc.

FAQ

What is Ryder's Freight Brokerage Carrier Loyalty Program?

Ryder's Freight Brokerage Carrier Loyalty Program is a new initiative that rewards carriers using the Trucker Tools app with tiered discounts of up to 22% on used vehicle purchases based on their engagement with Ryder's freight brokerage division.

How can carriers earn discounts through Ryder's new program?

Carriers can earn discounts by booking and tracking loads through the Trucker Tools app, with discounts ranging from 5% to 22% based on their level of engagement.

What features does the Trucker Tools app offer to carriers?

The Trucker Tools app provides digital trip planning, shipment visibility, predictive freight matching, and automated booking solutions to enhance the carrier experience.

How does Ryder's new program impact its freight brokerage business?

The program aims to improve carrier loyalty and service quality, which is crucial for Ryder's freight brokerage business growth and customer satisfaction.