AKRON — Bridgestone Americas Inc. and Michelin North America Inc. are planning to raise prices in North America on select consumer tire lines on April 1 by varying amounts.
Bridgestone Americas and Bridgestone Canada plan to increase prices up to 10% on non-winter Bridgestone-, Firestone- and Fuzion-brand passenger and light truck replacement tires sold in the U.S. and Canada. There will be adjustments at the article and pattern level.
Members of the Bridgestone Consumer Replacement Tire Sales team are contacting customers to provide more detailed information about the changes.
Michelin is planning to raise prices by up to 5% across its brands on "select" passenger and light truck replacement tires, up to 9% on motorcycle tires, up to 8% on road-going (only 19.5 rim diameter and smaller) commercial tires (19.5-inch rim diameter and smaller) and by up to 19% on off-road tires, due to "market dynamics."
These increases are in addition to an announcement earlier to raise prices on select Michelin, BFGoodrich and Uniroyal passenger and light truck winter tires by up to 5% on April 1.
Prices on tread rubber and associated supplies will increase up to 6% across all brands and retread networks.
Price changes may vary across specific products within each brand portfolio, Michelin said. Details will be presented to dealers, end-users and commercial equipment manufacturers by March 15 with additional questions addressed directly through account managers.
This is Bridgestone's second increase in 2022 and sixth in the past 12 months. It raised prices on Jan. 17 by undisclosed amounts on Bridgestone-, Firestone- and Fuzion-brand passenger and light truck replacement tires and Bridgestone motorcycle tires in the U.S. and Canada.
This latest action marks the fifth time Michelin has announced price hikes in the past year in North America, most recently on Jan. 1 on select consumer, commercial and motorcycle tires by varying amounts, also due to market dynamics. Earlier in 2021 the company raised prices on Sept. 1, July 1 and April 1.
Other recent increases include:
- Continental Tire the Americas — raising prices April 1 on select Continental and General passenger and light truck tires in the U.S. market;
- Sumitomo Rubber North America — raised prices March 1 in the U.S., Canada and the Caribbean on Falken- and Ohtsu-brand passenger, light truck and medium truck tires by undisclosed amounts;
- Yokohama Tire Corp. — raised prices Feb. 1 by undisclosed percentages on on consumer replacement tires and commercial truck tires sold in the U.S.
