Titan International Inc. soon will be raising farm tire prices for the third time this year. As you might expect, the reason is "to offset rising costs for raw materials, energy and transportation costs."
Titan and Goodyear brand tire prices will be raised up to 8%.
The company reported in April that it swung to a first-quarter loss on a debt-related charge and an executive-compensation expense, though adjusted earnings soared 43% on stronger sales and margins.
Titan's stock price rose 24.1% from the beginning of this year to June 30. (For more information on the company's projected financials, see "Titan's Taylor ups sales and revenue goals.")
Titan is the latest tire company to announce price increases in the second quarter of this year.
Commercial
* Bridgestone Americas Tire Operations LLC raised prices on Bridgestone and Firestone truck tires in the United States and Canada, plus Bandag retreads and related retreading materials, on July 1. In addition, the price of Bridgestone, Firestone and Continuum OTR tire products and retread rubber will increase effective Aug. 1.
According to Bridgestone, the total average increase for all the products will be 11%.
* Toyo Tire U.S.A. Corp. increased the dealer base price list on commercial truck tires up to an average of 9% on July 5.
* Yokohama Tire Corp. increased its medium truck and commercial light truck tires effective July 1. The hikes averaged 8%, with some in-line adjustments.
* Continental Tire the Americas LLC increased prices on all Continental, General and Ameri*Steel brand replacement commercial truck tires sold in the U.S. by 11% effective July 1.
* Michelin North America Inc. increased prices by an average of 12% on Michelin and BFGoodrich replacement commercial truck tires effective July 1. The increase also applied to Michelin Retread Technologies retreads sold in the U.S. Michelin also raised prices up to 6% on Michelin brand replacement ag tires sold in the United States and Canada effective July 1.
* Double Coin Holdings Ltd. raised prices up to 6%, effective June 1, on all Double Coin produced radial truck, OTR, crane and industrial tires. That included associate and private brand radial truck tires.
* Falken Tire Corp. raised commercial truck tire prices by up to 10% effective June 1.
* Hankook Tire America Corp. raised prices on its commercial tires, including Hankook and Aurora, effective June 1. The increases were up to 9%.
Consumer
* Pirelli & C. SpA raised prices on all consumer tires in the U.S. from 6% to 9%. The changes went into effect on June 1.
* Toyo Tire U.S.A. Corp. increased the dealer base price on passenger car and light truck tires up to an average of 8% on June 1.
* Falken Tire Corp. will increase prices up to 8% on its consumer tires effective July 1.
Canada
* Pirelli Tire Inc. raised prices 5% on its summer and all-season passenger and light truck tires effective July 1.
* Yokohama Tire (Canada) Inc. raised prices on its consumer tires on May 1, 2011. According to the company, all pricing on unfilled orders placed before May 1 "will be re-calculated at the new prices."
The price increases varied by tire category: High Performance, 5%; Light Truck, 4%; Passenger Touring, 4%; Winter, 4%.
* Michelin North America (Canada) Inc. raised consumer tire prices up to 10% effective June 1, 2011. (The product lines included in the company's April 1, 2011, "Winter Tires Base Price Book" were not included.)
