Toyo to increase prices next month
Toyo Tire (U.S.A.) Corp. will raise prices on its consumer products by 3.5% on Oct. 1, 2007.
Steve Weinger, senior vice president, sales and marketing, reports the increase is due to continued increases in raw materials, energy and transportation costs.
The last price increase for Toyo consumer tires went into effect on May 1, when the company raised prices by up to 5%.
It was earlier announced that Continental Tire North America Inc. also will raise its tire prices on Oct. 1.
A price increase of up to 6% will be levied on all the company's Continental, General and proprietary brand passenger and light truck tires in the United States. It will vary by market line and/or tire size.
Falken Tire Corp. made price adjustments on selected Falken brand consumer tires on Sept. 1.
Both Goodyear Tire & Rubber Co. (up to 8%) and Kumho Tire U.S.A. Inc. (up to 7%) raised their passenger and light truck tire prices on Aug. 1.