API instantly raises prices on seven brands
American Pacific Industries Inc. (API) has raised prices on seven imported tire brands. The increases -- up to 10% -- went into effect today, Oct. 27.
The consumer and commercial brands affected are Achilles, Advance, Armour, Farmking, Gladiator, Hartland and Pegasus. API has exclusive rights to the brands in the United States.
"Continued raw material escalation, led by the unprecedented increase in natural rubber, are the reasons for the increase," says COO Barry Littrell.
API joins the list of tire manufacturers and marketers that already have implemented price increases or are about to.
* Yokohama Tire Corp. will raise its consumer tire prices up to 8%, effective Dec. 1, 2010. In-line adjustments will be announced later.
* Toyo Tire U.S.A. Corp. will hike its passenger, light truck and commercial truck tire prices up to 6% on Nov. 1.
* Falken Tire Corp. will hike its passenger, light truck and medium truck tire prices up to 8% on Nov. 1.
* Kumho Tire U.S.A. Inc. will raise consumer and medium truck tire prices up to 6.5%, also on Nov. 1.
* Hankook Tire America Corp. will raise its consumer and commercial tire prices up to 6.5% on Nov. 1.
* Cooper Tire & Rubber Co. will hike its consumer tire prices in North America also as much as 6.5% on Nov. 1.
* Pirelli Tire North America will hike its consumer tire prices in the U.S. up to 7%, effective Dec. 1.
Goodyear Tire & Rubber Co. raised its medium truck tires prices up to 8% on Oct. 1.