GREENVILLE, S.C. (May 17, 2004) — Michelin North America Inc. said it will hike prices by 3 to 8 percent, depending on sizes, on its line of commercial truck and earthmover tires destined for both the North American original equipment and replacement markets.
The increases will be effective July 1 for earthmover tires and Aug. 1 for commercial tires, according to the Greenville-based tire maker.
The company's announcement follows its decision April 23 to increase prices by an average of 3 percent on its passenger and light truck tires sold in the U.S. replacement market, effective July 5.
Although Michelin did not indicate the reason for the just-announced price hikes, it and a number of other tire makers have boosted prices due to continuing increases in raw materials and labor costs.