Welcome to the WHAT THE TRUCK?!? Newsletter presented by Nikola. In this issue, we explore whether the market is normalizing, the curious case of trucking pandas, and more.

**Sponsored by Nikola:** Clean. Quiet. Smart. Sustainability delivered today. Nikola’s Class 8 battery-electric and hydrogen fuel cell electric trucks are available now. Learn more about incentives in your area.

**The Calm After the Storm: SONAR Data Insights**

October was a turbulent month, marked by a widespread port strike and two devastating hurricanes. These events created significant market uncertainty, making it difficult to predict outcomes. Many in the industry also rightly focused on relief efforts.

However, as data becomes available, we're gaining more clarity. FreightWaves reports that the Outbound Tender Volume Index (OTVI), a key indicator of national freight demand, experienced one of its strongest weeks with a 2.91% increase in volumes. Dry van OTVI is now 8.3% higher than it was a year ago.

Volume analysis reveals that 81 out of 135 freight markets tracked by SONAR saw an increase in volume this week. While dry van freight growth was a more modest 2.46% year-over-year, reefer freight volume has surged by 5.54% in the past week.

Regarding rejections, the rate of contracted loads being rejected (often due to untenderly conditions) is currently above 5%, which is generally considered a healthy indicator.