Michelin North America Inc. will increase prices of both its commercial and passenger tires.
The hike on commercial products will go into effect first, on Dec. 1, 2018. Michelin says those prices will go up by as much as 8% for all commercial brands, products and services.
Then, on Jan. 1, 2019, Michelin will increase the price of Michelin, BFGoodrich and Uniroyal passenger and light truck tires by 5%. That increase will also apply to Michelin's two-wheel segment in the U.S. and Canada.
The company says, "The increases address ongoing investments to better serve customers, increased operating costs and other market factors. Michelin's account management teams will convey additional details about the changes directly to customers."