School bus manufacturer Blue Bird Corporation (NASDAQ: BLBD) has implemented a 10% price increase on all model school buses to offset record inflationary pressures and substantially higher costs for raw materials, transportation, and labor.
The company also reports continued supply chain disruptions that have been exacerbated by the lingering COVID-19 pandemic and Russia’s war in Ukraine.
The price increase – which follows previous increases at the end of 2021 and in March – took effect on March 10.
“We maintain a relentless focus on process improvement every day to optimize our cost structure, production throughput, and operations,” said Matthew Stevenson, president and CEO of Blue Bird. “Despite the significant progress we have made so far, we are now forced to pass on these unprecedented cost increases to the market. It is a necessary step to continue supplying best-in-class school buses, parts, and related services to our valued customers in the student transportation industry.”
See all comments