Pirelli raises prices 5% in Canada
Pirelli Tire Inc. in Canada will raise prices 5% on its summer and all-season passenger and light truck tires effective July 1, 2011.
The company cited rising raw material costs as the reason for the increase.
The price hike comes on the heels of a 6% to 9% price increase on all consumer tires in the United States, which went to effect on June 1.
Pirelli is the latest tire company to announce or enact price increases since May 1.
* Toyo Tire U.S.A. Corp. increased the dealer base price on passenger car and light truck tires up to an average of 8% on June 1.
* Falken Tire Corp. will increase prices up to 8% on its consumer tires effective July 1.
* Michelin North America Inc. will increase prices by an average of 12% on Michelin and BFGoodrich replacement commercial truck tires effective July 1. The increase also includes Michelin Retread Technologies retreads sold in the U.S.
* Double Coin Holdings Ltd. raised prices up to 6%, effective June 1, on all Double Coin produced radial truck, OTR, crane and industrial tires. That included associate and private brand radial truck tires.
* Falken Tire Corp. raised commercial truck tire prices by up to 10% effective June 1.
* Hankook Tire America Corp. raised prices on its commercial tires, including Hankook and Aurora, effective June 1. The increases were up to 9%.
* Yokohama Tire (Canada) Inc. raised prices on its consumer tires on May 1, 2011. According to the company, all pricing on unfilled orders placed before May 1 "will be re-calculated at the new prices."
The price increases varied by tire category: High Performance, 5%; Light Truck, 4%; Passenger Touring, 4%; Winter, 4%.
* Michelin North America (Canada) Inc. raised consumer tire prices up to 10% effective June 1, 2011. (The product lines included in the company's April 1, 2011, "Winter Tires Base Price Book" were not included.)