Lift trucks are getting more expensive, reports the news service Forklift Action. Several leading forklift brands announced price increases set to go into effect November 1.
In a statement to Forklift Action, the companies attributed higher price tags to "steadily increasing costs from freight providers...and the ripple effect of recently imposed tariffs on steel, aluminum, and durable goods."
Executives use all sorts of metrics to plan for changing supply chain costs, but the load-to-truck ratio is often the first warning sign of upcoming rate fluctuations. The truck tonnage index, fuel pricing trends, and past rates can all help shippers plan for future costs, but the load-to-truck ratio tends to be a leading indicator; after all, it most directly measures capacity and demand against one another.