Kumho will raise prices in May
Kumho Tire U.S.A. Inc. will raise its tire prices up to 10% depending on tire line and model, effective May 1.
Rick Brennan, vice president of marketing for Kumho, cites "continuing price increases for raw materials and rising transportation costs as the reasons for the increase."
Kumho last raised prices on Feb. 1, 2008.
The Kumho increase will follow three price increases slated to take effect in April.
Federal Corp. will raise prices on all of its Federal and Hero brand tires by 5% next month. Nexen Tire America Inc. will raise prices on tires shipped out of its warehouse by 7%, effective April 1.
Also on April 1, Groupe Michelin will raise prices on all of its original equipment passenger and light truck tires sold worldwide.