Akron (Dec. 20, 2001)—Pirelli Tire North America and Toyo Tire (U.S.A.) Corp. have become the latest tire makers to announce price increases.
New Haven, Conn.-based Pirelli said it is boosting prices up to 5 percent on all passenger and light truck tires.
Toyo, based in Cypress, Calif., said it is raising prices on its off-the-road tires up to 2 percent, medium truck tires up to 3 percent and passenger and light truck tires up to 4 percent.
Both price hikes take effect March 1.
Pirelli´s and Toyo´s actions come on the heels of other planned price increases announced by Goodyear, Michelin Americas Small Tires, Bridgestone/Firestone, Cooper Tire & Rubber Co., Yokohama Tire Corp. and Kumho Tire USA.
Most companies cited increased production costs as the reason for the increase.