Michelin announces raises in replacement commercial tire prices

June 1, 2005

Michelin North America Inc. is increasing replacement tire prices on a variety of commercial tire product lines.

* Michelin and BFGoodrich commercial truck tires sold in the United States will increase by 3% to 5% effective July 1, 2005, for directly billed North American Fleet Accounts, and Sept. 1, 2005, for dealer accounts.

* Earthmover tires sold in North America will increase by an average of 7% effective July 1, 2005.

* Agricultural tires sold in Canada and the U.S. will be increased by an average of 5% and 8%, respectively, effective July 1, 2005.

Hankook Tire America Corp. and Toyo Tire (U.S.A.) Corp. also are hiking commercial tire prices on July 1. Prices on Hankook's full line of medium truck tires will jump up to 6%. Toyo will raise prices in all product categories up to 8%.

Other announced commercial tire price increases already have gone into effect.

Continental Tire North America Inc. raised Continental, General, Semperit and private brand truck tire prices from 4% to 6% effective June 1.

Kumho Tire U.S.A. Inc. raised prices on its commercial truck tires up to 8% effective June 1.

Yokohama Tire Corp. raised prices on its TBS and commercial light truck tires 5% to 6% effective June 1. The company increased prices on its OTR tires 3% to 8% on April 1.

Goodyear Tire & Rubber Co. raised prices on its Goodyear, Dunlop and Kelly brand commercial tires up to 6% effective May 15. The company's private brand prices also were affected.

Bridgestone Firestone North American Tire LLC and Bridgestone/Firestone Canada Inc. raised prices on their truck and bus tires up to 8% effective May 1. The companies raised their farm and OTR tire prices up to 8% on June 1.

Michelin also will hike its passenger and light truck tire prices in July.