CHARLOTTE, N.C. (May 31, 2001)—Continental Tire North America Inc. and Cooper Tire & Rubber Co. have joined four other tire makers in announcing price hikes.
Charlotte-based Conti said it will increase prices on all passenger and light truck replacement tires by up to 5 percent, effective July 1, and has notified dealers of its plans by letter.
The price increase is needed to offset the continuing increase in raw material, labor and medical costs, said Jerry Potter, controller for Conti's passenger and light truck business unit.
Cooper said it will hike prices up to 5 percent, effective July 1, on all its passenger and light truck lines.
Other tire makers boosting prices—due, in part, to higher energy and raw material costs—include Bridgestone/Firestone Inc., Michelin North America Inc., Goodyear and Pirelli Tire North America.
BFS said it will raise prices of its Bridgestone- and Firestone-brand medium truck and bus radial tires 4 percent effective July 1. Prices of Dayton-brand medium truck and bus tires will get a 3-percent increase.
Michelin said it is hiking prices by up to 5 percent on all brands of Michelin Americas Small Tires (MAST) passenger and light truck tires, effective Aug. 1, due to the continuing increase in raw material, manufacturing and logistics costs.
Pirelli said it will raise prices on all its passenger and light truck tire replacement lines up to 5 percent, effective July 1, a spokesman said.
Last month Goodyear said it planned to raise prices in the North American replacement market by 4 percent on Goodyear and Dunlop brands, 3 percent on Kelly and private labels and 5 percent on Aquatred and bias-ply light truck tires, effective June. 15.