ATLANTA — Kumho Tire USA Inc. plans to raise prices on its passenger, light truck and medium truck tires sold in the U.S. by up to 6 percent, effective Oct. 1.
The price adjustment will vary by SKU, Kumho said, and reflects economic factors such as increased raw material costs. The Atlanta-based company said it is "confident that the price increase will ultimately benefit the customer experience."
Kumho last raised prices in the U.S. on April 1, 2017, by up to 8 percent.
Kumho is the fourth major tire maker to announce price increases recently.
The others are:
Bridgestone Americas — up to 3.5 percent on replacement passenger and light truck tires sold in the U.S., varying by product line, and up to 4 percent on "select" Firestone-brand agriculture tires sold in the U.S. and Canada, effective Oct. 1.
Cooper Tire & Rubber Co. — up to 4 percent on all Cooper-produced passenger and light truck tire brands; and
Goodyear raised prices up to 3 percent Sept. 1 on "select consumer tire lines" in the U.S., most up to 3 percent, effective Sept. 1. Goodyear said the increase covers all Goodyear brands sold in the U.S.