Commercial Business

Up to 15%: Goodyear hikes truck tire prices

Posted on March 21, 2011

Goodyear Tire & Rubber Co. will raise prices on its commercial truck tires on April 1, 2011. The increases will apply to all the company's brands, plus its tread rubber.

The increases are as follows:

* up to 15% on truck tires;

* up to 7% on tread rubber.

A Goodyear spokesman cited rising raw material costs "and other factors" as the reason for the price hikes.

Goodyear is the latest tire manufacturer to announce price increases in the United States this year. Here's a rundown:

Consumer

* Michelin North America Inc. will be increasing prices up to 8.5% on Michelin, BFGoodrich, Uniroyal and private and associate passenger and light truck replacement tires sold in the U.S. The prices will go into effect May 1. Michelin also raised prices on Feb. 1; the increases varied by product line.

(Michelin also announced it was raising Michelin and BFGoodrich passenger and light truck winter replacement tires sold in Canada by up to 7% on April 1.)

* Nexen Tire America Inc. will raise tire prices up to 8% effective April 1, 2011. The increases will be applied to warehouse orders and April FDC production. Nexen also raised prices "up to 8%" on Jan. 1.

* Toyo Tire U.S.A. Corp. increased prices on passenger and light truck tires by an average of 8%, with in-line adjustments, effective March 1.

* Hankook Tire America Corp. will increase prices on its full line of passenger and light truck tires by a weighted average of 7%. The increases will go into effect April 1.

* Cooper will raise prices on its light vehicle tires effective March 15. The increases in total will average around 8% to 9%, with in-line adjustments.

* Continental Tire the Americas LLC will raise consumer tire prices in the U.S. up to 6%, with some in-line adjustments, effective April 1.

* Federal Corp. raised prices on its passenger and light truck tires by up to 12% effective March 1. The percentage increase varied by product lines and continents. There also were in-line adjustments for all onward orders and remaining back orders.

* Yokohama increased prices by up to 8% on all of its consumer tires effective March 1, 2011.

* Kumho Tire U.S.A. Inc. raised prices on all passenger, light truck and medium truck tires effective March 1. Kumho says the details of this increase will be provided to its customers in the near future.

* Goodyear Tire & Rubber Co. raised consumer tire prices on March 1. The increase, up to 6%, applied to all brands in the U.S. and Canada.

* Falken Tire Corp. also raised prices on March 1. The price hikes on Falken passenger and light truck tires ranged from 5% to 8% depending on the size, with in-line adjustments as needed.

* Bridgestone Americas Tire Operations LLC will raise replacement and original equipment consumer tire prices one month later, on April 1, The increases on Bridgestone, Firestone and associate brand passenger and light truck tires in the U.S. and Canada will vary up to 8%.

Commercial

* Continental Tire the Americas LLC will increase the price of its Continental, General and AmeriSteel brand truck tires by 10% effective April 1 for replacement sales channels in the U.S. only.

* Yokohama Tire Corp. will implement a price increase on all of its light and medium commercial truck tires in the United States effective April 1, 2011. Prices will be raised an average of 8%, with in-line adjustments.

* Double Coin and China Manufacturers Alliance LLC (CMA) hiked commercial tire prices an average of 13% on March 1. The price increases applied to the Double Coin radial truck and bus tires, all of its private brand radial truck and bus tires, and Double Coin radial off-the-road tires.

* Toyo increased prices on its commercial truck and OTR tires by an average of 8%, with in-line adjustments, on March 1.

* Michelin increased prices on its commercial products in the U.S. effective March 1. The company also raised prices an average of 12% on Michelin and BFGoodrich truck tires and Michelin Retread Technologies and Oliver retread products.

(Michelin also is raising prices on its Michelin and BFGoodrich truck tires sold in Canada up to 7% on April 1.)

* Michelin and BFGoodrich passenger and light truck winter replacement tires sold in Canada.

* Hankook will increase prices on its medium truck tires by a weighted average of 9%. The increases will go into effect on tire shipments made on or after March 15, 2011.

* Titan Tire Corp. will raise prices on its farm and construction tires effective April 1, 2011. The increases, up to 8%, will apply to both Titan branded products and Goodyear branded tires manufactured by Titan. Certain tire prices "may rise in excess of 8% due to realignment and positioning of the product," said the company.

* Cooper Tire raised its commercial truck tire prices 12% across the board during the week of Feb. 6, 2010.

* The Bridgestone Off Road Tire, U.S. & Canada Commercial Tire Sales division increased prices on its mining, construction and industrial tires by 12%, "with some in-line adjustments" on March 1.

* The Bridgestone Agricultural Tire, U.S. & Canada Commercial Tire Sales division announced a 4% price increase effective April 1 on the following tires: Firestone agricultural, construction and forestry tires; Bridgestone garden tires; and Regency tires sold in the United States and Canadian replacement markets.

* Michelin increased prices on Michelin brand replacement agricultural tires sold in the U.S. and Canada on March 1. The hikes were up to 8%.

The company already increased prices on its Michelin earthmover and industrial replacement tires sold in North America up to 7% on Feb. 1. It increased prices on Oliver and MegaMile retread rubber products sold in the U.S. up to 7% on Jan. 3.

CGS Tyres Group (7.5% to 10% on farm and industrial tires), Titan Tire Corp. (up to 8% on farm and OTR tires), Yokohama Tire Corp. (up to 5% on bias and radial OTR tires) and Continental Tire the Americas LLC (up to 8% on truck tires) raised their commercial tire prices on Jan. 1.

Related Topics: Goodyear financials, price increases, raw material costs, truck tires

Comments ( 0 )
More Stories
News Cooper Extends Shutdown in U.S. and Mexico

Cooper Tire & Rubber Co. will keep its tire manufacturing plants in the U.S. and Mexico closed for at least another two weeks. Cooper's plans in Europe also remain shut down.  

News Congress Extends Additional Benefits to Businesses

In addition to small business loans available through the recently passed CARES Act, Congress has extended other benefits to businesses. 

Goodyear is suspending production at all of its plants in the Americas "until further notice."
News Goodyear Extends Tire Production Shutdown 'Until Further Notice'

Goodyear Tire & Rubber Co. has extended its shutdown of tire manufacturing plants in the Americas "until further notice."

Be the First to Know

Get the latest news and most popular articles from MTD delivered straight to your inbox. Stay on top of the tire industry and don't miss a thing!

We respect your data and privacy.
By clicking the submit button below, you are agreeing with Bobit Business Media’s Privacy Policy and this outlined level of consent.