Kumho joins list of tire manufacturers hiking prices
Depending on the tire line, Kumho Tire U.S.A. Inc. will increase its passenger, light truck and commercial truck prices up to 5% effective Oct. 1, 2006.
David Hudrlik, vice president and director of sales, cites continuing price increases for raw materials and rising transportation costs as the reasons for the increase. Kumho last raised prices on July 1, 2006.
Kumho joins four other tire companies that recently announced price increases on consumer tires effective Oct. 1: Hankook Tire America Corp. (up to 5%), Falken Tire Corp. (from 5% to 7% on selected lines), Federal Tire Corp. (7%) and Yokohama Tire Corp. (up to 7%). Groupe Michelin will raise its original equipment passenger and light truck tire prices between 6% and 8% worldwide on the same day.
In late July, Bridgestone Firestone North American Tire LLC announced it was raising prices on its Bridgestone, Firestone, Fuzion, Dayton, associate and private brand tire lines up to 4% effective Sept. 1.