Class One Rail Car Loadings Plummet The Last 17 Years
The number of carloads moved by U.S. Class One railroads has dropped dramatically over the course of the past 17 years. In 2006, the Class Ones moved 32.1 million carloads, while in 2023, they moved just 24.4 million, a 24% decline. Statistics are available through the American Association of Railroads (AAR) and Statista. Meantime, these railroads have made exorbitant profits and engaged in massive stock buybacks to boost the price of their shares, at the same time that the workforce has been decimated, customer service has suffered, Amtrak on-time performance has declined, and safety has been downgraded.