Hyster-Yale has followed announced price increases

Hyster-Yale has followed the lead of Crown Equipment Corporation and announced price increases for its forklifts.

Separate statements for the Yale and Hyster brands indicate that the price of products up to 19,000 lb. (8,600 kg) will rise on November 1.

"Steadily increasing costs from freight providers, struggling with crippling driver shortages and demands for high salaries, and the ripple effect of recently imposed tariffs on steel, aluminium and durable goods have resulted in escalating cost inflations in both the upstream and downstream supply chain," the statements say.

"While the long-term impact of these inflationary pressures is uncertain, Yale (and Hyster) remain committed to providing customers with best-in-class quality products at the best possible price."

There's no mention of the size of the "surcharge" which will be introduced.

In August, Crown announced that it "will implement a price increase effective September 4, 2018".

Crown did not indicate the size of the increase.

At the time, major manufacturers contacted by Forkliftaction News would not comment on their plans to increase prices, but none ruled out a price rise.