Michelin is latest to raise prices

GREENVILLE, S.C. (Jan. 31, 2017) — Michelin North America Inc. is increasing prices up to 8 percent for its passenger, heavy truck, earthmover, industrial-handling, agriculture and two-wheel segments across all of the company's brands in the U.S., Canada and Mexico.

Michelin cited the net effects of raw material prices for the need to raise prices. This increase represents Michelin's first price increase since 2012, the Greenville-based tire maker said.

The increase will be implemented separately by individual segments; customers will be notified directly with specific details, Michelin said.

Michelin becomes the latest tire maker or importer/distributor to announce price increases.

Goodyear is raising prices up to 8 percent on its full product range in the U.S. and Canada, the firm disclosed recently.

Dynamic Tire Corp. disclosed earlier in January that prices for Sailun-brand passenger, light truck, medium truck and ST-type trailer tires in North America went up by 5 to 8 percent in January.

It cited the "significant and rapid rise of raw material costs over the past several months" for the increase, but said the brand's manufacturer Sailun Tire Co. Ltd. is "making every effort to minimize these costs, while continuing to produce a premium quality product."

Carlstar Group is planning to raise prices globally on its full range of specialty tire products by 8 to 12 percent, effective on or before March 1. The increases covers the Carlisle, Marastar, Marathon and Ultra CRT brands.

Separately, Carlstar said the increase for the ITP brand will be 5 to 8 percent across the entire tire portfolio, effective Feb. 6.

Carlstar Group cited escalating costs for raw materials as the primary reason for the increase and noted significant volatility in the market may require further increases.