Tire price increases: updating them all
To date, a dozen companies have announced upcoming consumer price increases. Commercial tire price increases also have been scheduled.
In all cases, tire companies cited increasing raw material costs as at least one of the reasons for raising prices.
Toyo Tire U.S.A. Corp, Goodyear Tire & Rubber Co., Nexen Tire America Inc., Kumho Tire U.S.A. Inc., Yokohama Tire Corp., Hankook Tire America Corp., Michelin North America Inc., Cooper Tire & Rubber Co., Falken Tire Corp., Bridgestone Americas Tire Operations LLC and Continental Tire the Americas LLC also will raise tire prices on June 1.
Toyo: Passenger, light truck, commercial truck and OTR tire prices will be raised up to 8%; there also will be in-line adjustments.
Goodyear: An increase of up to 6% will apply to all of the company's consumer tires.
Nexen: An 8% price increase will apply to all warehouse orders and June factory direct container production.
Kumho: Passenger and light truck tire prices will be raised up to 8%. A company spokesman says there also will be additional inline adjustments.
Yokohama: The company will raise its consumer prices up to 8%, and also will make some in-line adjustments.
Hankook: Passenger, light truck and medium truck tire prices will be increased up to 6%, although specific increases will vary by product line and tire size.
Michelin: Domestic Michelin, BFGoodrich, Uniroyal, private and associate brand replacement passenger and light truck tire prices will be increased by up to 6%. The increases also apply to Michelin replacement motorcycle tires sold in North America.
Cooper: Prices on all of Cooper's passenger and light truck tires will increase by up to 7.5%. The company says only its tires sold in North America will be affected.
Falken: Consumer tire prices will increase up to 6%; radial medium truck tire prices will rise up to 4%.
Bridgestone: The prices on the company's Bridgestone, Firestone and associate brand passenger and light truck tires in the United States will be increased up to 6%. Prices on Firestone and Dayton brand truck and bus tires will be raised up to 6%.
Continental: Passenger and light truck tire prices will increase up to 6%, while medium truck tire prices will increase up to 7%. All Continental, General and proprietary brands will be affected.
One company, Pirelli Tire North America, will increase replacement passenger and light truck tire prices 4% effective one month later, on July 1, 2010. The increase will apply to tires sold in the United States.
Michelin raised prices on replacement truck tires sold in the U.S. by 3% to 7% on May 1. The same day, Michelin hiked its U.S. and Canada ag tire prices by an average of 4.5%.
Goodyear also raised its commercial truck tire prices on May 1. Increases up to 8% applied to the company's truck tire brands in North America. In addition, Goodyear increase tread rubber prices by up to 7%.