Hankook increases commercial tire prices
Hankook Tire America Corp. is raising prices on its line of commercial tires, including Hankook and Aurora brands, by up to 9%. The amount of the increase will vary by product line and size.
The increase will take effect on commercial tire shipments made on or after June 1, 2011. The company says the continuous rise in raw material costs and the weakening U.S. dollar have made the price adjustment necessary.
The move comes after Hankook’s South Korean parent company Hankook Tire Co. Ltd. posted a strong first quarter (see Hankook posts highest quarter).