Michelin announces price increases
Michelin North America Inc. is increasing prices for its passenger and light truck tires due to the rising cost of raw materials.
Effective July 2005, original equipment and replacement tire prices for Michelin, BFGoodrich, Uniroyal, private and associate brands sold in Canada, Mexico and the United States will increase by up to 8%.
Other tire companies also have announced price increases. These include Goodyear Tire & Rubber Co., Yokohama Tire Corp., Bridgestone Firestone North American Tire LLC (BFNT) and Bridgestone/Firestone Canada Inc.
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.