Wabash National Corp has begun to experience cost increases from its suppliers of major raw materials including steel, aluminum, and wood. In response to these cost increases, Wabash National plans to increase its pricing on new trailers by 4.5% to 6%, effective immediately.
William P Greubel, president and chief executive officer of the firm, said, “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.”