US prices set to rise

News Story
- 9 Aug 2018 ( #884 ) - United States
2 min read
Crown will implement a price increase
Crown will implement a price increase
Forklift prices look set to rise in the United States.

Speculation is mounting after Crown Equipment Corporation announced it "will implement a price increase effective September 4, 2018". There's no indication yet of the size of that increase, nor whether it will be uniform across the range.

Major manufacturers contacted by Forkliftaction News would not comment on their plans to increase prices, but interestingly, none ruled out a price rise.

Pending price increases are not unexpected, especially in the wake of last month's introduction of new tariffs on a range of imports from China, including forklifts and forklift parts. These imposts augment recently imposed tariffs on steel and aluminium imports - raw materials heavily used in forklift manufacture.

As reported earlier, the major importers of Chinese forklifts are being forced to increase prices, many not able to absorb the full 25% tariff. And while many importers had stocked up ahead of the tariff implementation, inventories are believed to be running thin, with new imports burdened with higher costs.

Meanwhile, the increased cost of steel and aluminium is also reportedly starting to impact, with producers like motorcycle manufacturer Harley-Davidson warning that tariffs will probably push up costs for all of its products. Insiders say major materials handling manufacturers are subject to the same pressures and will be increasingly impacted as their material stockpiles are reduced.

In May, before the imposition of the tariffs, Brett Wood, president and CEO of Toyota Material Handling North America, told Forkliftaction News of his fears around the measures. Even though TMHU buys steel - and lots of it - in the US, Wood predicted that prices will go up. "So now you're penalising someone who already is loyal to the US ... and that price increase will get passed on to the consumer."

While most manufacturers are remaining tight-lipped about their pricing strategies, many will be forced to act when Crown shows its hand next month.
No EU forklift tariffs - ITA
No EU forklift tariffs - ITA 3 Sep 2020 - Washington, DC, United States - 1 min read
Chinese importers look forward to tariff termination
Chinese importers look forward to tariff termination 21 Nov 2019 - Washington, DC, United States - 2 min read
US drops tariffs on Chinese forklift imports
US drops tariffs on Chinese forklift imports 26 Sep 2019 - Washington, DC, United States - 2 min read
Previously about:
Crown updates C-G Series News Story - 28 May 2020 - New Bremen, OH, United States - 1 min read
Crown launches ‘small footprint’ forklift News Story - 12 Mar 2020 - New Bremen, OH, United States - 1 min read
Crown marks 75 years News Story - 5 Mar 2020 - New Bremen, OH, United States - 2 min read
Do you have materials handling news? Submit your news here
Inside The News
This week we explore the various energy sources available for forklifts and other material handling equipment that were showcased at LogiMAT in Stuttgart... Continue reading

PREMIUM business

Lift Technologies Inc.
Global leader - manufactures masts, carriages, sideshifters & fork positioners

With LogiMAT 2024 wrapped up, Forkliftaction is the place to catch up on all the highlights and product news from the show.

See the exhibitor highlights in our LogiMAT gallery,

Read our exclusive three-part LogiMAT 2024 coverage:
- Safety front of mind at LogiMAT
- Many paths to automation at Logimat
- Lower emissions a major focus at LogiMAT 

Words of support …

Undoubtedly, peer experience plays a crucially important role in our industry and it is extremely valuable for us to be part of the platform, where industry professionals, as well as end users can discuss and learn more about the materials handling world.

Alexandra Artemova, Marketing Specialist - Rocla AGV Solutions

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET

CeMAT Southeast Asia is coming to Singapore EXPO, Singapore on May 15-17, 2024. Register for free and experience the leading global trade show for intralogistics, materials handling and supply chain management.

Be sure to also register for LogiSYM Asia Pacific and LogiSYM Cold Chain 2024 to experience a conference schedule packed with experts and decision-makers from your industry.

Register Now! 

Inside The News
This week we explore the various energy sources available for forklifts and other material handling equipment that were showcased at LogiMAT in Stuttgart... Continue reading

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET

PREMIUM business

Rocla AGV Solutions
Leading developer & manufacturer of automated guided vehicles (AGVs) tailored to the customers' specific needs.

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET

CeMAT Southeast Asia is coming to Singapore EXPO, Singapore on May 15-17, 2024. Register for free and experience the leading global trade show for intralogistics, materials handling and supply chain management.

Be sure to also register for LogiSYM Asia Pacific and LogiSYM Cold Chain 2024 to experience a conference schedule packed with experts and decision-makers from your industry.

Register Now!