Falken announces price increases
Falken Tire Corp. will increase prices on its passenger and light truck tire lines by up to 6% and radial medium truck tire lines by up to 4% effective June 1, 2010.
Price increases by tire line will vary by product size and type ,and may include in-line adjustments.
All backorders will be canceled on June 30th, 2010, and be re-entered according to the aforementioned June 1, 2010, schedule.
The increases are due to the continuing escalation in raw material and transportation costs affecting the tire industry as a whole, according to the company.
"Please be assured, Falken Tire Corp. will continue to do everything in our control to decrease the effect of these escalating costs on your business, while still providing best in class service," said Andrew Hoit, director of marketing, in a letter to Falken authorized dealers.
Bridgestone Americas Tire Operations LLC and Continental Tire the Americas LLC also will raise tire prices on June 1.
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%.
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.
Michelin North America Inc. announced it will raise prices on replacement truck tires sold in the U.S. by 3% to 7% on May 1. The same day, Michelin also will hike its U.S. and Canada ag tire prices by an average of 4.5%.