Retail

Kumho announces 3-5% price increases

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Kumho Tire U.S.A. Inc. will increase tire prices on all its tires effective October 1, 2004.

Kumho’s passenger, light truck and commercial truck tire prices will increase anywhere from 3% to 5% percent, depending on the tire model.

David Hudrlik, vice president and director of sales, cited escalating raw material prices and rising shipping costs as the reasons for the increase.

Kumho cited the same reasons for increasing its tire prices May 1. The company also raised prices in November 2003.

Earlier this week, Cooper Tire & Rubber Co. announced it will raise prices on its consumer tires up to 5% on October 1.

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