Navistar International is the latest truck maker to raise its prices as it battles lower demand.

The company has raised prices for its medium- and heavy-duty trucks 3 percent this year. Steve Keate, president of Navistar's truck group, told Bloomberg that the company has not seen a slowdown in demand as a result of the higher prices. "Our goal is to ensure we earn an adequate return on our investment."
Keate does not predict any significant change in demand for heavy-duty trucks for the next six months. "The challenge we've got is not to contribute to the cyclicality of the business," he said. "That means the way we manage incentives and the way we go to market so we don't overstimulate demand."
In May, Volvo Trucks North America and Mack Trucks announced a 2 percent price increase effective July 1.