Truck maker MAN to raise prices in response to rising energy and raw material prices

The MAN division of German commercial vehicle maker Traton announced on June 29 that it plans to raise the price of its trucks due to higher costs due to expensive energy and raw materials, while market demand remains high.

"This year's capacityhas been sold out," MAN CEO Alexander Vlaskamp told the media, adding that market demand for next year will remain high as customers need to update their 's fleet.

Image source: MAN

He said MAN's sales had plummeted by as much as 30 percent, and the average age of vehicles in customer fleets rose from 11.8 to 13.2 years during the pandemic.He also added that the company's maintenance department is operating at full capacity due to increased customer demand for repairs during the pandemic as vehicles are being used for longer periods of time.

On June 29, MAN announced that it will build a heavy-duty truck battery factory in the southern German city of Nuremberg.Vlaskamp revealed that by 2030, the plant will be able to meet the battery needs of about 30,000 electric trucks, about a third of MAN's planned electric truck sales.

Vlaskamp said that even though European economic sentiment is slowly deteriorating, the company does not see the threat of a recession.Earlier, market leader Daimler Trucks also announced that the price of its vehicles will increase due to the escalating conflict between Russia and Ukraine.