BendPak / Ranger, one of our largest manufacturers, announced on Monday that they plan on holding their prices at their current levels for the next two quarters. BendPak / Ranger is a manufacturer of such essential auto shop products as auto lifts, tire changers, exhaust tube benders, floor jacks, air compressors and much more. They have been manufacturing these types of products for over 40 years and are known throughout the industry as a leader in their field.
This announcement is significant as many of our manufacturers of automotive service equipment have recently increased their prices or have indicated they will be increasing prices in the near future. It’s no secret that commodity costs have increased dramatically over the past year which has had a noticeable impact on products that require steel, rubber, plastic and other raw materials. On top of that, labor costs have also risen in China and other countries. This has raised costs for many manufacturers who moved much of their production over to Asia in an effort to reduce costs and remain competitive.
BendPak’s decision shows that it is possible to hold the line on costs and remain competitive. They have shown true leadership on this and many other issues over the past 15 years that we have been carrying their products. That is one of the many reasons we are proud to carry their product line.
Price is a major issue for most manufacturers. It will be a a great thing for them to offer the most affordable prices for their consumers.