Michelin North America Inc. 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%.
In addition, Michelin will raise prices on its Michelin Retread Technologies retreads between 3% and 7% on May 1.
Michelin officials say the price increases are necessary due to escalating raw material prices.
