Learn about actual and potential costs
How much should I pay for Vehicle Lifts?
What is the average price of Vehicle Lifts?
This procurement report includes pricing information to help you purchase Vehicle Lifts. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.
Has the price of Vehicle Lifts been rising or falling?
Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.
I’m not ready to purchase Vehicle Lifts yet. Will I pay more if I wait too long?
We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.
What other costs are associated with purchasing Vehicle Lifts?
Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Vehicle Lifts with a reduced risk of unexpected costs.
See how we display average pricing information, trends and market data.
Find the vendor to meet your needs
Where can I purchase ?
There are nearly 400 suppliers in the vehicle lift market. Market share concentration among suppliers is low. The top four suppliers account for about 25.0% of total market revenue. Overall, the market is highly fragmented because products do not differ much in terms of quality or functionality. Additionally, many buyers... Subscribe to learn more.
Questions to ask potential suppliers
How can I gain leverage during negotiations?
Experience and Expertise
How long have you provided these products to your longest-tenured client?
What qualifications does your staff have and what measures do you take to keep those qualifications up to date?
What industry do you most commonly supply this product for?
To what extent will ordering multiple products from your firm allow me to save on costs?
What is your repeat business rate for businesses in my industry and how does that compare to your overall rates?
Supply Chain Risk
Over the past three years, what percentage of your revenue has been dedicated to raw input materials? How has that changed?
Has the availability of raw materials tightened due to the coronavirus outbreak?
Over the past three years, what percentage of your revenue has been dedicated to labor?
How have fluctuations in input prices affected the prices of your products during the past three years?
How do you mitigate sudden price increases in raw materials?
When input prices rise, how much of the cost is absorbed by you and how much is passed onto buyers?
How, if at all, has your supply chain been affected by import tariffs levied in 2018?
How do you manage regulatory change? Do you have regulation advisers or methods to track regulation?
How have changing regulations influenced your pricing now and how will the changes affect prices over the life our proposed agreement?
What ongoing training procedures do you provide for your staff?
Have you ever been found to be noncompliant with regulatory frameworks?
Amid widespread health concerns during the COVID-19 pandemic, what contingency plans are in place to mitigate risk to your clients and employees? Do you offer clients any flexible exceptions, such as contract suspensions?
Are your quality control procedures more computer or labor-based? How does that give your quality control procedures an advantage?
How often do you check for quality? Is this done by the number of products you produce or by a certain schedule?
How often do you update quality control procedures?
How often do you do a review for potential systemic quality issues?
What is the best method for contacting you? Does this differ based upon the issue?
What is the turnaround time for each method of communication that you have?
Can you explain the processes necessary to change an order?
What system do you have in place to check for systemic customer service issues?
Are there any changes to your customer service process amidst the COVID-19 pandemic?
How long have you operated in the market?
What experience do you have supplying lifts to my market? How would that benefit my operations?
What is the average amount of experience each of your employees have?
How is your engineering expertise reflected in the quality of the product?
How do you ensure your lifts are made from top quality materials?
How do you ensure safe installation of vehicle lifts? Do you have standardized procedures?
What kind of warranty do you offer with your products? Are there exceptions to this warranty?
Do you offer extended warranties?
Where are your manufacturing facilities? What about your warehouse facilities? Are any of these facilities based abroad or in areas highly affected by the COVID-19 pandemic?
What are the different capabilities of each of these locations? What services and products does each of these locations offer?
What discounts do you offer for nearby locations? How does this reduce transportation costs for me?
How do your transportation procedures limit potential damage to products?
What additional products and services do you offer?
How is the lead time affected by different combinations of products?
What kind of discounts can I receive with bundled goods? What about transportation discounts?
Do you have product or service reviews for your additional products?
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Key elements for every RFP
What should my RFP include?
Buyers should explicitly state the amount of the contract award.
Buyers should explain when and how many payments will be made.
Buyers can consult the Benchmark Price section of this report to determine about how much they should pay for each vehicle lift.
Buyers should evaluate the experience of the supplier.
Buyers should make sure the provider offers vehicle lifts with the appropriate specifications.
Buyers should evaluate suppliers based on the estimated costs of the units they are offering.
For a detailed list of key selection criteria, buyers should reference the Buying-Decision Scorecard section of this report.
Buyers need to include the date proposals are due and when award information will be available.
Buyers should include any other benchmark dates relevant to the project that suppliers will need to be aware of.
Evaluate major factors to mitigate risk
How risky is the supply chain?
Overall, there is a moderate level of risk in the supply chain. Moderate supply chain risk is primarily associated with changes in raw material prices, which have historically exhibited significant volatility. In particular, given that metal is the primary raw material used in vehicle lift production, fluctuations in metal prices... Subscribe to learn more.