The U.S. currently only produces only about 10% of the world's supply of semiconductors; East Asia accounts for 75% of global production, including most of the top-tier chips.
The company blames inflationary pressures and raw material costs, exacerbated by the COVID-19 pandemic and Russia's war with Ukraine, for the latest price hike.
In a call with investors, Blue Bird President and CEO Matthew Stevenson and CFO Razvan Radulescu discussed ongoing challenges in the first half of the year and how relief may come starting in the third quarter.
The new 4% increase, following an 11% increase reported in the fourth quarter of 2021, takes effect on March 1.
Component shortages and delivery challenges resulted in a bus manufacturing backlog for Blue Bird as the industry started its post-COVID shutdown rebound.
media brand
The secure and easy all-access connection to your content.
Bookmarked content can then be accessed anytime on all of your logged in devices!
Already a member? Log In
