On May 1, Michelin North America Inc. will be increasing prices on Michelin, BFGoodrich, Uniroyal and private and associate passenger and light truck replacement tires sold in the United States by up to 8.5% due to increasing raw material costs.
Michelin is the latest tire manufacturer to announce price increases. Other upcoming price hikes include:
Consumer
* Nexen Tire America Inc. will raise tire prices up to 8% effective April 1. The increases will be applied to warehouse orders and April FDC production.
* Hankook Tire America Corp. will increase prices on its full line of passenger and light truck tires by a weighted average of 7%. The increases will go into effect April 1.
* Cooper will raise prices on its light vehicle tires effective March 15. The increases in total will average around 8% to 9%, with in-line adjustments.
* Continental Tire the Americas LLC will raise consumer tire prices in the U.S. up to 6%, with some in-line adjustments, effective April 1.
* Bridgestone Americas Tire Operations LLC will raise replacement and original equipment consumer tire prices one month later, on April 1. The increases on Bridgestone, Firestone and associate brand passenger and light truck tires in the U.S. and Canada will vary up to 8%.
Commercial
* Hankook will increase prices on its medium truck tires by a weighted average of 9%. The increases will go into effect on tire shipments made on or after March 15, 2011.
* Titan Tire Corp. will raise prices on its farm and construction tires effective April 1, 2011. The increases, up to 8%, will apply to both Titan branded products and Goodyear branded tires manufactured by Titan. Certain tire prices "may rise in excess of 8% due to realignment and positioning of the product," said the company.
* The Bridgestone Agricultural Tire, U.S. & Canada Commercial Tire Sales division announced a 4% price increase effective 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.
