Pirelli announces price increases
Pirelli Tire North America will raise its passenger and light truck tire prices an average of 5% beginning Jan. 1.
The company sites rising raw material costs as the main reason for the increase.
Pirelli joins a number of tire manufacturers that have announced price increases. On Dec. 1, Yokohama Tire Corp. will raise its passenger and light truck tire prices by 4% to 6%, while Cooper Tire & Rubber Co. will hike all its passenger and light truck tire prices by 5%.
Kumho Tire U.S.A. Inc. raised its passenger and light truck tire prices between 3% and 5% on Nov. 1. On the same day, Michelin North America Inc. raised prices up to 4% on certain SKUs of BFGoodrich tires.
Goodyear Tire & Rubber Co. also will raise prices 4% to 5% on its Goodyear, Kelly and Dunlop passenger and light truck tires on Dec. 1.
Officials from Bridgestone/Firestone Americas Holding Inc. and Toyo Tire (U.S.A.) Inc. say they also are planning price increases.