Retail

Kumho announces price hikes

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Kumho Tire USA Inc. will raise all passenger and light truck tire prices 3% to 5%.

The increase takes place July 1.

Prices on the Korean-owned company's commercial truck tires remain unchanged, according to Kumho officials.

Kumho brand tires enjoy 1% share of the domestic light truck replacement market, according to Modern Tire Dealer data.

Other tiremakers who have recently announced price increases include Continental Tire North America Inc., Cooper Tire & Rubber Co., Bridgestone/Firestone Inc., Goodyear Tire & Rubber Co., Michelin North America Inc. and Pirelli Tire North America Inc.

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