Hankook announces Jan. 1 price increase
Hankook Tire America Corp. is raising tire prices up to 6% effective Jan. 1, 2006. "It will vary by line and size," says Marketing Director Bill Bainbridge.
Hankook cites rising raw material costs -- primarily petroleum materials, according to Bainbridge -- as a major reason for the increase. Rising transportation costs also were a factor.
Yokohama Tire Corp. and Continental Tire North America Inc. also will raise tire prices Jan. 1. The increases -- up to 6% and 8%, respectively -- will apply to their consumer tires.