Wabash National Corp. announced plans Tuesday to increase prices on its new trailers by 4.5% to 6%, effective immediately.
The LaFayette, Ind., trailer maker said it has begun to experience cost increases from its suppliers of major raw materials including steel, aluminum and wood.
Commenting on these developments, William P. Greubel, president and chief executive officer, stated, "The pricing environment for most of our trailer types over the past three years has remained stable or decreased as we have held or passed raw material-related savings onto customers.
"The amount of cost increases we are currently experiencing requires us to pass through these increases to our customers. While there may be a brief lag effect in the near term in recovering these cost increases, we expect to be able to pass a substantial portion, if not all, of the increases through. The trucking industry has become very adept at managing their cost increases, including fuel, with their customers. Unfortunately, Wabash National is now facing similar circumstances."
Wabash National Corp. designs, manufactures and markets standard and customized truck trailers under the Wabash brand name. The company is one of the world's largest manufacturers of truck trailers and a leading manufacturer of composite trailers.
The LaFayette, Ind., trailer maker said it has begun to experience cost increases from its suppliers of major raw materials including steel, aluminum and wood.
Commenting on these developments, William P. Greubel, president and chief executive officer, stated, "The pricing environment for most of our trailer types over the past three years has remained stable or decreased as we have held or passed raw material-related savings onto customers.
"The amount of cost increases we are currently experiencing requires us to pass through these increases to our customers. While there may be a brief lag effect in the near term in recovering these cost increases, we expect to be able to pass a substantial portion, if not all, of the increases through. The trucking industry has become very adept at managing their cost increases, including fuel, with their customers. Unfortunately, Wabash National is now facing similar circumstances."
Wabash National Corp. designs, manufactures and markets standard and customized truck trailers under the Wabash brand name. The company is one of the world's largest manufacturers of truck trailers and a leading manufacturer of composite trailers.
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