Michelin joins many announcing price hikes
Michelin North America Inc. will raise domestic prices on replacement consumer and commercial tires effective Feb. 1, 2010.
The increases will range as follows:
* Passenger and light truck replacement tire prices will increase on Michelin, BFGoodrich, Uniroyal, private and associate brand tires. The price increase will vary by product line.
* Commercial truck tire prices will increase by up to 7% on Michelin and BFGoodrich brand commercial truck replacement tires. This price increase will also apply to Michelin Retread Technologies (MRT) retreads.
* Earthmover tire prices will increase up to 4% on Michelin brand replacement tires.
Several other tiremakers will hike tire prices effective Jan. 1. They include Hankook Tire America Corp. (up to 5%, consumer and commercial); Toyo Tire U.S.A. Corp. (up to 6%, consumer and commercial); Pirelli Tire North America Inc. (up to 4.5%, consumer, excluding its P4/P5 lines); Kumho Tire U.S.A. Inc. (up to 8%, consumer and commercial); Yokohama Tire Corp. (up to 6%, consumer); Bridgestone Americas Tire Operations LLC (up to 5%, consumer); Continental Tire North America Inc. (up to 5%, consumer); and Nexen Tire America Inc. (up to 8%, consumer).
In addition, Goodyear Tire & Rubber Co. (up to 6%, consumer) and Falken Tire Corp. (up to 7%, consumer) raised tire prices on Dec. 1, 2009.