AKRON-Yokohama Tire Corp., Toyo Tire (U.S.A.) Corp., Kumho Tire USA, Hankook Tire America Corp. and Pirelli Tire North America have joined the list of companies initiating tire prices increases in the near future.
Yokohama boosted prices on all commercial and consumer tires, beginning with a 2.5 percent hike Jan. 1 on OTR tires. A month later, on Feb.1, Fullerton, Calif.-based Yokohama said it will raise the price of its medium radial truck and light truck commercial tires by 3 percent and will hike prices of its high-performance, passenger and light truck tires by 4 percent.
Fontana, Calif.-based Kumho said it will raise prices 4 percent on passenger and light truck tires and 3 percent on medium truck tires effective March 1. Both tire makers cited higher production costs as a reason for the hikes.
Cypress, Calif.-based Toyo said it will increase prices on its off-the-road tires by up to 2 percent, medium truck tires up to 3 percent and passenger and light truck tires up to 4 percent. The hikes will be effective March 1.
Hankook's prices on its passenger, high performance, light truck and medium truck lines will rise 3 percent March 1.
Pirelli said it will raise prices on all of its passenger and light truck tire lines by up to 5 percent, effective March 1.
Other manufacturers that previously announced price hikes include Goodyear, Michelin Americas Small Tires, Bridgestone/Firestone and Cooper Tire & Rubber Co.