MTD Facts Issue: Fewer Price Hikes Took Place in 2023

Feb. 2, 2024

At the start of 2023, tire dealers told MTD they expected to see fewer price hikes during the year.

This proved to be an accurate prediction.

“After a final round of price increases during the fourth quarter of 2022, many tiremakers pulled back on raising prices – or at least publicly announcing they were implementing additional price increases,” writes MTD Editor Mike Manges in MTD’s 2024 Facts Issue.

The number of price increases correlates with the gradual moderation in overall inflation levels, according to JP Brooks, chief revenue officer for Duluth, Minn.-based Fitment Group.

Brooks explains more in MTD’s 2024 Facts Issue, which also provides an in-depth look at retail tire pricing by tier and region, as well as online tire pricing.

Click here to access MTD’s 2024 Facts Issue.