CLERMONT-FERRAND, France (April 2, 2004) — Group Michelin is raising prices in Europe across its entire line of passenger car and light truck tires by an average of 3.5 percent.
The increases took effect April 1 and range up to 5 percent, depending on country and product market, the company said. Michelin blamed the hikes on a sharp rise in the cost of its raw materials.