ATLANTA — Apollo Tyres Ltd. plans to increase prices in the coming months on selected Vredestein-branded products in the U.S. and Canada by up to 8%.
The increase — the second so far in 2021 —will take effect for off-the-road product lines on June 1 and for passenger and light-truck tire lines on July 1. The tire maker said inline adjustments also will be made on a per size basis.
"This increase has been driven by multiple factors, including increased costs on sea freight, transportation (and) raw materials, in addition to other market factors," Abhishek Bisht, assistant vice president, Americas, said.
Apollo raised prices on its Vredestein brand in the U.S. and Canada on March 1, by up to 5%, including adjustments at article and pattern level.
Apollo is among 10 tire companies that have raised prices or announced plans to do so in 2021. Others include:
Bridgestone Americas Inc.: Firestone-brand truck and bus tires in the U.S. and Canada to rise by up to 8% on May 1; increased by more than 5% to 8% on Nov. 1, 2020; Bridgestone-brand truck and bus radial tires and Bandag retreads in the U.S. and Canada rose by up to 8% on April 1; "select" Bridgestone- and Firestone-brand passenger and light truck in the U.S. and Canada to rise by up to 8%, effective May 1; increased by an undisclosed amount Jan. 1.
Continental Tire the Americas L.L.C.: select Continental- and General-brand passenger and light truck tires in the U.S. by an undisclosed amount, effective March 1.
Goodyear: Goodyear-, Kelly- and Dunlop-branded passenger tires by up to 8% in North America on April 1; Goodyear- and Dunlop-branded passenger and light truck tires in the U.S. rose by up to 5% on Dec. 1, 2020.
Hankook Tire America Corp.: commercial truck tires in the U.S. by 5%, effective May 1; by up to 5% in December 2020.
Michelin North America Inc.: select Michelin, BFGoodrich and Uniroyal passenger and light truck tires in the U.S. and Canada rose by up to 8% on April 1; Michelin- and BFGoodrich-brand passenger and light truck tires in the U.S. by up to 5% on Feb. 1; Uniroyal-branded products by an undisclosed amount last November.
Pirelli Tire North America Inc.: car and light truck tires in the U.S. to rise by up to 7% on April 15; increased by an undisclosed amount on Jan. 1.
Sumitomo Rubber North America Inc.: Falken- and Ohtsu-brand consumer tires rose by up to 8%, effective Jan. 1, and medium truck tires by up to 6%, effective Dec. 1, 2020, in the U.S. and Canada.
Toyo Tire U.S.A. Corp.: most consumer and commercial tires in the U.S. by up to 6% on May 1; similar price increase May 1 on "non-winter" passenger and light truck tires in Canada.
Yokohama Tire Corp.: Yokohama passenger, light truck and medium truck tires in the U.S. to rise by an undisclosed amount on May 1; consumer replacement tires increased by up to 5% on Nov. 1, 2020; "select" commercial truck/bus tires by up to 6% on Dec. 1, 2020.
Alliance-, Galaxy- and Primex-brand products in the U.S., Canada and Latin America rose by an undisclosed amounts, Jan. 1.
