PHOENIX (Jan. 24, 2001) — Michelin Americas Small Tires is warning its dealers to expect more price increases this year. MAST executives said they expect raw material prices will increase again this year — perhaps by as much as 6 percent by mid-year.
"Just as we cannot absorb the types of cost increases we are seeing," said Pete Selleck, MAST chief operating officer, "we know that you can´t absorb our price increases internally either.
"We encourage you to ensure that the retail prices you are charging fairly reflect your costs, as well as the equity and quality of the products and services you are providing the consumer."
Michelin raised prices Jan. 1 for aftermarket passenger and light truck tires by 3 to 8 percent, depending on the line. The company previously raised prices in the second quarter of 2000 by up to 5 percent.