Kumho to increase tire prices
Kumho Tire USA will increase the price of its passenger, light truck and commercial truck tires by up to 8% effective June 1, 2005.
David Hudrlik, vice president and director of sales for Kumho, cited continuing price increases for raw materials and rising shipping costs as the reason for the increase. Kumho last raised prices on Oct. 1, 2004.
Other tire companies which have announced price increases include Michelin North America Inc., Goodyear Tire & Rubber Co., Yokohama Tire Corp., Bridgestone Firestone North American Tire LLC (BFNT) and Bridgestone/Firestone Canada Inc.
Michelin is increasing prices for its OE and replacement passenger and light truck tires effective July 2005. Michelin, BFGoodrich, Uniroyal, private and associate brands sold in Canada, Mexico and the United States will increase by up to 8%.
Goodyear is raising the price of its Goodyear, Dunlop and Kelly brand commercial tires by up to 6% effective May 15. The company's private brand prices also will be affected.
Yokohama will increase prices "across the board" on its TBS and commercial light truck tires effective June 1, 2005. Tire prices will be increased by 5% to 6%. Additional in-line adjustments will be made. Detailed pricing will be provided to dealers prior to the actual increase.
BFNT and Bridgestone/Firestone Canada will raise their truck and bus tire prices up to 8% on May 1. The companies will raise passenger, light truck, farm and OTR tire prices up to 8% on June 1.