Eight tire makers announced tire price increases ranging from 4 to 8 percent on various lines due to rising raw materials, energy and transportation costs.
Goodyear, Continental Tire North America Inc., Kumho Tire USA Inc., Hankook Tire America Corp., Pirelli Tire North America Inc., Yokohama Tire Corp., Michelin North America Inc. and Toyo Tire (U.S.A.) Corp. are all raising prices this summer.
Goodyear will raise prices on its consumer passenger and light truck tires up to 5 percent, effective June 1, specifically on its Goodyear, Kelly, Dunlop and Republic brands, including all associate brands. Goodyear also recently announced price increases for its commercial tires of up to 6 percent, effective May 15, which affects Goodyear, Dunlop, Kelly and private brands of commercial tires.
Continental plans to hike prices 4-6 percent on its Continental, General and Semperit commercial tires and on private brand truck tires, effective June 1. Conti also will raise prices for passenger and light truck tires, but details were not yet available at presstime.
Kumho Tire will increase prices up to 8 percent June 1 on its passenger, light truck and commercial truck tires. Exact increases will vary by tire model, the firm said.
Hankook and Toyo will hike their tire prices up to 6 percent and 8 percent, respectively, effective July 1. Hankook said its increase will apply to its full line of passenger, high-performance, light truck and medium truck tires. Toyo said its prices will rise in ``all product categories.''
Yokohama plans to increase prices across the board on its consumer tires up to 7 percent, effective July 1. The increases apply to Yokohama, Mohawk and private brand consumer tires.
The Fullerton, Calif.-based tire maker earlier said it would raise prices by 5-6 percent on its truck and bus and light truck commercial tires, effective June 1.
Pirelli will raise prices on its passenger and light truck tires by 5 percent, effective June 1.
Michelin also recently said it will raise prices on OE and replacement tires up to 8 percent in July.