Michelin announces across-the-board price increases
Michelin North America Inc. is increasing tire prices on a variety of tire lines in 2006.
* Passenger and light truck tires will increase by up to 8% on Michelin, BFGoodrich, Uniroyal and private and associate brand replacement tires sold in the United States effective Feb. 1, 2006. In Canada, the increases will be effective Mar. 1.
* Commercial truck tires will increase from 4% to 7% on Michelin and BFGoodrich brand replacement tires sold in the U.S., effective Feb. 1.
* Earthmover tires will increase by an average of 8% on Michelin brand replacement tires sold in North America effective Jan. 1.
* Agricultural tires will increase from 3% to 7% for all replacement tires sold in Canada and the U.S. effective Jan. 1.
* Aircraft tires will increase by an average of 6% for general aviation and regional aircraft tires worldwide effective Jan. 1.
Michelin is the latest tire manufacturer to announce a Jan. 1 price increase. Toyo Tire (U.S.A.) Corp. will raise prices up to 8% on its passenger and light truck tires on the same day, while Hankook Tire America Corp. recently said it will raise tire prices up to 6%.
Yokohama Tire Corp. and Continental Tire North America Inc. also will raise tire prices at the beginning of the year. The increases -- up to 6% and 8%, respectively -- will apply to their consumer tires.