Kumho plans domestic tire price increases up to 8%

Dec. 21, 2007

Kumho Tire U.S.A. Inc. will increase tire prices effective Feb. 1, 2008. Prices will increase up to 8%, depending on the tire line and model.

David Hudrlik, vice president and director of sales, cited continuing price increases for raw materials and rising transportation costs as the reasons for the increases. Kumho last raised prices on Aug. 1, 2007.

Cooper Tire & Rubber Co. (up to 5% on its consumer tires) also will raise prices on Feb. 1. Continental Tire North America Inc. will raise truck tire prices up to 6% on the same day.

Hankook Tire America Corp. (up to 5%), Nexen Tire America Inc. (2% to 7%) and Yokohama Tire Corp. (up to 7%) will raise consumer tire prices on Jan. 1.

Michelin North America Inc. (up to 6%) and Yokohama (up to 4%) will raise truck tire prices on Jan. 1.