Manufacturers will hike commercial tire prices
Eleven tiremakers will implement price increases next Tuesday, June 1. Several manufacturers will raise their commercial tire prices.
* Bridgestone AmericasTire Operations LLC will raise prices on its Firestone and Dayton brand truck and bus tires up to 6%.
* Continental Tire the Americas LLC will hike its medium truck tire prices up to 7%.
* Falken Tire Corp. will raise medium truck tire prices up to 4%.
* Hankook Tire America Corp. will hike its medium truck tire prices up to 6%.
* Toyo Tire U.S.A. Corp. will raise its commercial truck and OTR tire prices up to 8%.
These increases follow a wave of price hikes that went into effect on May 1. On that day, Goodyear Tire & Rubber Co. raised its medium truck tire prices (North America only) up to 8%, while Michelin North America Inc. raised prices on its U.S. replacement truck tires between 3% and 7%.
Tiremakers are citing escalating raw material, energy and transportation costs as reasons for the price increases.