GREENVILLE, S.C. — Michelin North America Inc. is planning to raise prices on Jan. 1 in the U.S. and Canada on select consumer, commercial and motorcycle tires by varying amounts "due to market dynamics."
The increases scheduled are:
- up to 12% on select Michelin-, BFGoodrich- and Uniroyal-brand passenger and light truck replacement tires;
- up to 5% on motorcycle tires; and
- up to 16% on both on- and off-road commercial tire and service offers.
These updated prices will come into effect for orders invoiced starting on Jan. 1, Michelin said.
These latest increases mark the fifth time Michelin has announced price hikes in the past year.
Earlier the company raised prices on Sept. 1, July 1, April 1 and Feb. 1.