Retail

Michelin prepares to raise consumer, commercial tire prices

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Michelin North America Inc. says it will increase prices on several replacement product lines later this year as a result of its ongoing evaluation of market conditions and "continuing increases in raw material costs."

The replacement lines are as follows:

* Passenger and light truck tires. Prices will increase up to 5% effective Aug. 1. Michelin, BFGoodrich, Uniroyal, private and associate brand tires sold in the United States will be affected.

* Commercial truck tires. Prices will increase up to 5% effective Aug. 1. Michelin and BFGoodrich tires sold in the U.S. will be affected.

* Earthmover tires. Prices will increase by 4% on all brands sold in Canada, Mexico and the U.S. effective July 1.

* Agricultural tires will increase by an average of 2.5% for all brands sold in Canada and the U.S. effective July 1.

Retread rubber sold in the U.S. by Michelin Retread Technologies Inc. increased its prices by 4% today.

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