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COMMITMENTS AND CONTINGENT LIABILITIES | 3 Months Ended
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Mar. 31, 2025
COMMITMENTS AND CONTINGENT LIABILITIES [Abstract] |
COMMITMENTS AND CONTINGENT LIABILITIES | NOTE 7 – COMMITMENTS AND CONTINGENT LIABILITIES Warranty Related We provide limited warranties against assembly or construction defects. These warranties generally provide for the replacement or repair of defective parts or workmanship for a specified period following the date of sale. The end users also may receive limited warranties from suppliers of components that are incorporated into our chassis and vehicles. Certain warranty and other related claims involve matters of dispute that ultimately are resolved by negotiation, arbitration or litigation. Infrequently, a material warranty issue can arise which is beyond the scope of our historical experience. We provide for any such warranty issues as they become known and are estimable. It is reasonably possible that additional warranty and other related claims could arise from disputes or other matters beyond the scope of our historical experience. An estimate of possible penalty or loss, if any, cannot be made at this time. Changes in the warranty liability are summarized below:
|  | Three Months Ended March 31, |
|  | 2025 |  |  | 2024 |
Balance of accrued warranty, beginning of period |  | $ | 10,205 |  |  | $ | 8,022 |
Accruals for current period sales |  |  | 1,265 |  |  |  | 922 |
Cash settlements |  |  | (546 | ) |  |  | (483 | )
Changes in liability for pre-existing warranties |  |  | (8 | ) |  |  | (4 | )
Translation adjustment |  |  | 289 |  |  |  | (242 | )
Balance of accrued warranty, end of period |  | $ | 11,205 |  |  | $ | 8,215 |
Long-term warranty provision amounting to $1,807 and $782 as of March 31, 2025 and 2024, respectively is included within the Other non-current liabilities in the Condensed Consolidated Balance Sheets. Chassis Pool Agreements As of March 31, 2025, and December 31, 2024, chassis consigned inventory was approximately $23,982 and $36,573 respectively. The Company incurred $309 and $698 of interest expense related to the chassis on hand during the three months ended March 31, 2025 and 2024, respectively. For additional information regarding our chassis pool agreements refer to our audited consolidated financial statements and footnotes included in our Form S-4.

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