Citing currency fluctuations and increases in the price of materials and energy, German trailer manufacturer Krone Commercial Vehicle Group announced a 3.6% increase in prices effective January 1.
“This measure is unavoidable as a reaction to the currently massively rising raw material prices for steel, aluminum, crude oil and gas, said Bernhard Brüggen, CEO of Krone Commercial Vehicle SE. "The economic environment for the commercial vehicle industry remains challenging. In the entire value chain, the essential cost drivers have been consistently reduced to a minimum. The overall situation forces us to make these price adjustments."
With regard to currency changes, Brüggen mentioned the strong dollar relative to the euro as one factor leading Krone management to raise prices.