July 16, 2008
Navistar to Raise Prices on International Trucks
WARRENVILLE, IL – Commodity prices that have as much as doubled in the past six months have led
Navistar International Corporation to increase prices on International trucks,
effective immediately. Price increases will vary by model, topping at $1,600
per truck.
Prices have soared for commodities essential to truck
manufacturing, such as crude oil, steel, aluminum, copper, and precious metals
used in new emissions-compliant diesel engines. Since the beginning of 2008,
steel has increased 100 percent, aluminum by 22 percent, platinum by 32 percent,
and copper by 23 percent. Crude oil prices have jumped by more than 40 percent.
Navistar is aggressively working to mitigate the higher
commodity prices, as well as offset the negative impact of a weakened U.S.
dollar, by attacking operational costs wherever possible and by negotiating
greater efficiencies with suppliers.