Hankook Tire America Corp. has sent a letter to its customers informing them of a price increase effective April 1.
The company says the increase will be up to 8%, and will be applied on a varying scale to passenger, light truck and commercial products. The rate will vary by specific product line.
Hankook cited rising raw material costs, "amongst other business factors" as the reason for the price hike.
“As a company we are very dedicated to ensuring our customers are receiving our best at the most affordable prices," the company says.