Continental announces tire price increases
Continental Tire North America Inc. is raising prices on all its Continental, General, Semperit and private brand tires effective June 1.
The price increases, which will vary by market line and/or size, apply as follows:
* Passenger and light truck tires will go up anywhere from 3% to 5%.
* Truck and OTR tires will be raised from 2% to 5%.
A Continental spokesperson said the price increases were necessary due to the escalation of raw material prices.
On April 12, Yokohama Tire Corp. also announced a price increase effective June 1. Yokohama said it will increase prices "across the board" on its consumer, commercial and OTR tires as follows:
* 2% to 5% on consumer tires;
* 2% to 4% on commercial tire lines, which include light truck commercial and medium radial truck tires;
* 2% to 3% on OTR tires.
In-line adjustments will be made, added the company, which cited rising material, energy and freight costs as reasons for the price increases.
Last week, Goodyear Tire & Rubber Co. announced it was raising its tire prices at least 2% on all tires beginning May 1.