Hankook announces consumer tire pricing increases

March 9, 2007

Hankook Tire America Corp. is raising prices by up to 7% on its full line of passenger, high performance and light truck tires. The company says the amount of the increase "will vary by product line and/or size."

The increases will take effect April 1, 2007.

The price increases reflect rising costs in raw materials, particularly petroleum products and natural rubber, as well as higher costs in transportation and general operating expenses, according to Hankook.

Goodyear Tire & Rubber Co. also will raise prices (up to 4%) on all of its consumer tires on April 1.