Hankook Plans February Price Hike
Hankook Tire America Corp. will raise prices on Hankook and Laufenn brand passenger, light truck and commercial tires, effective Feb. 1.
The company says products are subject to an increase of up to 10% and will vary by product within each brand portfolio.
Hankook officials add that the increases are the result of several factors, including the rising cost of operations and raw materials, increased logistics costs and other market factors that have affected internal costs.
Hankook said it is working with its customers to provide more detailed information about the increases.