In the raw: materials are up, so are Toyo's prices
Effective May 1, 2011, Toyo Tire U.S.A. Corp. will increase prices on all commercial tires by up to 15% with in-line adjustments. Toyo says the increase is due to a continued escalation in raw material costs.
“Due to the steep increase in the costs of raw materials affecting our industry, we must reluctantly raise prices of our product,” says John Hagan, senior director, sales, Toyo Tire U.S.A. Corp. “We appreciate the continued support and understanding of our dealers as we remain committed to providing the highest quality products.”
Toyo is the latest company to raise prices so far this year.
* Goodyear Tire & Rubber Co. is raising consumer tire prices for the second time in two months, effective May 1, Goodyear will increase prices on all its replacement passenger and light truck tires in North America up to 8%. The company already raised price on March 1.
* Yokohama Rubber Co. Ltd. applied an increase up to 15% on all passenger and light truck tires exported outside Japan in early April. That follows Yokohama Tire Corp.'s price increase (up to 8%) on all of its consumer tires on March 1.
* Michelin North America Inc. will be increasing prices up to 8.5% on Michelin, BFGoodrich, Uniroyal and private and associate passenger and light truck replacement tires sold in the United States. The prices will go into effect May 1. Michelin also raised prices on Feb. 1; the increases varied by product line.
(Michelin also announced it was raising Michelin and BFGoodrich passenger and light truck winter replacement tires sold in Canada by up to 7% on April 1.)
* Nexen Tire America Inc. raised tire prices up to 8% on April 1. The increases applied to warehouse orders and April FDC production. Nexen also raised prices "up to 8%" on Jan. 1.
* Toyo Tire U.S.A. Corp. increased prices on passenger and light truck tires by an average of 8%, with in-line adjustments, effective March 1.
* Hankook Tire America Corp. increased prices on its full line of passenger and light truck tires by a weighted average of 7%. The increases went into effect April 1.
* Cooper raised prices on its light vehicle tires on March 15. The increases in total averaged around 8% to 9%, with in-line adjustments.
* Continental Tire the Americas LLC raised consumer tire prices in the U.S. up to 6%, with some in-line adjustments, on April 1.
* Federal Corp. raised prices on its passenger and light truck tires by up to 12% effective March 1. The percentage increase varied by product lines and continents. There also were in-line adjustments for all onward orders and remaining back orders.
* Kumho Tire U.S.A. Inc. raised prices on all passenger, light truck and medium truck tires effective March 1. Kumho says the details of this increase will be provided to its customers in the near future.
* Falken Tire Corp. also raised prices on March 1. The price hikes on Falken passenger and light truck tires ranged from 5% to 8% depending on the size, with in-line adjustments as needed.
* Bridgestone Americas Tire Operations LLC raised replacement and original equipment consumer tire prices on April 1, The increases on Bridgestone, Firestone and associate brand passenger and light truck tires in the U.S. and Canada varied up to 8%.
* Yokohama Tire Corp. will implement price increases of up to 10% on all of its off-the-road (OTR) tires in the United States, effective May 1, 2011.
Yokohama implemented a price increase on all of its light and medium commercial truck tires in the United States on April 1. Prices were raised an average of 8%, with in-line adjustments.
(Yokohama Rubber applied an up to 15% increase on its truck and bus tires exported outside Japan in early April.)
* Michelin will increase prices on Michelin brand earthmover replacement tires sold in the United States and Mexico by up to 8% effective May 1. It will be the second increase this year; the company already increased prices on its earthmover (and industrial) replacement tires sold in North America up to 7% on Feb. 1.
Michelin increased prices on Michelin brand replacement agricultural tires sold in the U.S. and Canada on March 1. The hikes were up to 8%.
The company also raised prices an average of 12% on Michelin and BFGoodrich truck tires and Michelin Retread Technologies and Oliver retread products. on March 1. It first raised prices on Oliver and MegaMile retread rubber products sold in the U.S. up to 7% on Jan. 3.
(Michelin also is raising prices on its Michelin and BFGoodrich truck tires sold in Canada up to 7% on April 1.)
* Goodyear Tire & Rubber Co. raised prices on its commercial truck tires on April 1. The increases applied to all the company's brands, plus its tread rubber.
The increases were as follows: up to 15% on truck tires; up to 7% on tread rubber.
* Continental increased the price of its Continental, General and AmeriSteel brand truck tires by 10% on April 1 for replacement sales channels in the U.S. only.
* Double Coin and China Manufacturers Alliance LLC (CMA) hiked commercial tire prices an average of 13% on March 1. The price increases applied to the Double Coin radial truck and bus tires, all of its private brand radial truck and bus tires, and Double Coin radial off-the-road tires.
* Toyo increased prices on its commercial truck and OTR tires by an average of 8%, with in-line adjustments, on March 1.
* Hankook increased prices on its medium truck tires by a weighted average of 9%. The increases went into effect on tire shipments made on or after March 15.
* Titan Tire Corp. raised prices on its farm and construction tires on April 1. The increases, up to 8%, applied to both Titan branded products and Goodyear branded tires manufactured by Titan.
* Cooper Tire raised its commercial truck tire prices 12% across the board during the week of Feb. 6, 2010.
* The Bridgestone Off Road Tire, U.S. & Canada Commercial Tire Sales division increased prices on its mining, construction and industrial tires by 12%, "with some in-line adjustments" on March 1.
* The Bridgestone Agricultural Tire, U.S. & Canada Commercial Tire Sales division implemented a 4% price increase on April 1 on the following tires: Firestone agricultural, construction and forestry tires; Bridgestone garden tires; and Regency tires sold in the United States and Canadian replacement markets.
CGS Tyres Group (7.5% to 10% on farm and industrial tires), Titan Tire (up to 8% on farm and OTR tires), Yokohama Tire Corp. (up to 5% on bias and radial OTR tires) and Continental Tire the Americas (up to 8% on truck tires) raised their commercial tire prices on Jan. 1.