Michelin will raise prices on truck tires, retreads
Due to increasing raw material prices, Michelin North America Inc. is increasing prices by an average of 12 percent on Michelin and BFGoodrich brand replacement commercial truck tires.
The price increase also includes Michelin Retread Technologies retreads sold in the United States. The increase will go into effect July 1.
This is the second price increase announced by Michelin this month (see Michelin will raise prices in Canada). Michelin joins several other tire manufacturers in raising prices due to raw material cost increases.
* Effective June 1, 2011, Toyo Tire U.S.A. Corp. will increase the dealer base price on passenger car and light truck tires up to an average of 8 percent.
* Falken Tire Corp. will increase prices up to 8% on its consumer tires effective July 1.
* Double Coin Holdings Ltd. will raise prices up to 6%, effective June 1, on all Double Coin produced radial truck, OTR, crane and industrial tires. That includes associate and private brand radial truck tires.
* Falken Tire Corp. will raise commercial truck tire prices by up to 10% effective June 1.
* Hankook Tire America Corp. will raise prices on its commercial tires, including Hankook and Aurora, effective June 1. The increases will be 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 vary by tire category: High Performance, 5%; Light Truck, 4%; Passenger Touring, 4%; Winter, 4%.
* Michelin North America (Canada) Inc. will raise 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" are not included.)