January Wholesale Truck Prices Show Largest Gain in 5 Years

.S. wholesale prices for heavy motor trucks jumped 1.6% in January, marking their largest monthly increase in more than five years, as equipment makers continued to pass along higher costs for raw materials, including steel, aluminum, wood and rubber.

But even as original equipment manufacturers said further price increases were on the horizon to recoup materials surcharges im-posed by suppliers, motor carriers expressed concern that if truck prices rose too high, too quickly, they could be forced to alter buying plans.

“1.6% is certainly significant, and it’s certainly concerning,” said Steve Duley, vice president of purchasing for Schneider National. “It’s a daisy chain. We can’t avoid those costs. We are incurring them. It’s not enough that it’s going to change our plans, but [we hope] it doesn’t grow to the point where we have to.”