Nexen Tire America Inc. has announced price increases of up to 8%, with in-line adjustments.
The increases are effective as follows:
* immediately on all factory direct container orders "submitted for January production or thereafter," says John Aben, vice president of sales and marketing.
* Jan. 1, 2011, for all warehouse orders.
Aben adds that the increases are due to the rapid increase in the cost of raw materials.
Nexen is not the only tire company that will raise tire prices on Jan. 1. Here is a list of the others.
* CGS Tyres Group will raise tire prices on its agricultural and industrial tires in all its markets, including North America and Europe. The hikes will range from 7.5% to 10%.
* Titan Tire Corp. will implement a price increase for all Titan branded tires and Titan manufactured Goodyear branded farm tires "up to 8% in most cases."
* Yokohama Tire Corp. will increase prices on its bias and radial OTR tires by up to 5% tires in the U.S.
* Continental Tire the Americas LLC will raise prices on its Continental, General and Ameristeel brand replacement medium truck tires up to 8%. The increases will apply to tires only in the U.S.
Yokohama (up to 8%, with in-line adjustments) and Pirelli Tire North America (up to 7%) raised their consumer tire prices effective Dec. 1, 2010.