Tire price hikes unavoidable in 2021

AKRON — For 2021, at least, tire price increases joined death and taxes as things one couldn't avoid.

The steady stream of price-increase announcements from tire makers large and small — in a few cases, five or more times in a 12-month period — was unprecedented.

According to pricing changes tracked by Tire Business throughout the past year, wholesale prices in some cases could up to 40% higher than they were in early January, depending on brand.

Increases throughout the year tended to be in the 5% to 8% range.

The situation has evolved to the point where savvy retail dealership owners are checking prices daily — or even multiple times daily — before ordering to try and stay current with the situation, according to wholesalers contacted by Tire Business.

While most of the major tire suppliers announced multiple increases throughout the year, one other metric of price comparison didn't appear to change that much.

According to import/export pricing data gleaned from U.S. Commerce Department records, the average declared price of a passenger tire imported in September was just $1.99, or 4%, higher than the average price declared in January.

In their respective price increase announcements throughout the year, the various companies cited a number of reasons for the price hikes, including

• changing market conditions;
• the continued escalation of operational and supply chain costs; and
• increased costs in both transportation, labor and raw materials

By company, price increases from the past 12 months include:

Apollo Tyres Ltd.

• March 1 — up to 5% on Vredestein-brand tires in the U.S. and Canada
• June 1 — up to 8% on Vredestein-brand off-the-road tires;
• July 1 — up to 8% on Vredestein-brand passenger and light truck tires.

Bridgestone Americas:

• Jan. 1 — by an undisclosed amount;
• May 1 — up to 8% on Bridgestone- and Firestone-brand passenger and light truck tires and up to 8% on Bridgestone-brand truck and bus radial tires and Bandag retreads in the U.S. (effective in Canada April 1);
• July 1 — up to 8% on select Bridgestone, Firestone and Fuzion passenger and light truck tires;
• Sept. 1 — up to 10% for Bandag products including treads, cushion and ancillary items sold in the U.S. and Canada.
• Oct. 1 — up to 8% on Bridgestone-, Firestone- and Fuzion-brand passenger and light truck tires; Bridgestone- and Firestone-brand truck and bus tires; Bridgestone- and Firestone-brand off-the-road (OTR) tires; and Firestone agricultural tires and tubes.
• Jan. 17, 2022 — as-yet undisclosed amount Bridgestone-, Firestone- and Fuzion-brand passenger and light truck replacement tires and Bridgestone motorcycle tires in the U.S. and Canada.

Continental Tire the Americas L.L.C.

• March 1 — by undisclosed amounts on Continental and General-brand consumer tires in the U.S.;
• July 1 — by undisclosed amounts on Continental and General-brand consumer tires in the U.S.;
• Sept. 1 — up to 15% on Hoosierr-brand race and street tire products;
• Oct. 1 — by undisclosed amounts on Continental and General-brand consumer tires in the U.S.; and
• Jan. 3, 2021 — undisclosed percentage in the U.S. on select Continental- and General-brand passenger and light truck tires

Cooper Tire & Rubber Co.

• Sept. 1 — by up to 8% on passenger and light truck tires in the U.S. and Canada

Giti Tire (USA) Ltd.

• Oct. 1 — by an undisclosed amount on all "Giti-produced" tires sold in the U.S.
• July 5 — instituted a freight surcharge of as much as $10,000 per 40 high-cube container for some destinations in the U.S.

Goodyear

• Dec. 1, 2020 — up to 5% on Goodyear- and Dunlop-branded passenger and light truck tires in the U.S.
• April 1 — up to 8% on Goodyear-, Dunlop- and Kelly-brand consumer tires;
• June 1 — up to 8% on Goodyear-, Dunlop- and Kelly-brand consumer tires;
• Sept. 1 — up to 8% on Goodyear-, Dunlop- and Kelly-brand passenger and light truck tires in the U.S. and Canada;

Hankook Tire America Corp.

• Dec. 1, 2020 — up to 5% on commercial truck tires in the U.S.
• May 1 —up to 5% on commercial truck tires in the U.S.
• Aug. 1 — up to 7% on Hankook- and Laufenn-brand passenger and light truck tires in the U.S.

Michelin North America Inc.

• Feb. 1 — up to 5% on Michelin- and BFGoodrich-brand passenger and light truck tires in the U.S.
• April 1 — up to 8% on Michelin, BFGoodrich and Uniroyal passenger and light truck tires in the U.S. and Canada.
• July 1 —up to 6% on Michelin-, BFGoodrich- and Uniroyal-branded passenger and light truck replacement tires in the U.S. and Canada; up to 13% on on- and off-road commercial tires will increase up to 13%.
• Sept. 1 — up to 8% on Michelin-, BFGoodrich- and Uniroyal-brand passenger and light truck replacement tires in the U.S. and Canada; 4% on motorcycle tires; and up to 14% on on- and off-road commercial tires.
• Jan. 1, 2022 — 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 in the U.S. and Canada on select consumer, commercial and motorcycle tires by varying amounts.

Pirelli Tire North America Inc.

• Jan. 1 — by undisclosed amounts on passenger/light truck tires in the U.S.
• April 15 — up to 7%, varying by line and tire size;
• July 1 — up to 6%. varying by line and tire size;
• Oct. 1 — up to 8%; varying by line and tire size;
• Jan. 17, 2022 — to 10% in the U.S.

Sumitomo Rubber North America Inc.

• Dec. 1, 2020 — by up to 6% in the U.S. and Canada on Falken- and Ohtsu-brand consumer and medium truck tires;
• Jan. 1 — by up to 8% on Falken-and Ohtsu-brand passenger and light truck tires;
• May 1 — by up to 8% in the U.S. and Canada on Falken- and Ohtsu-brand passenger, light and medium truck tires and Dunlop-brand motorcycle tires;
• Aug. 1 — up to 8% in the U.S., Canada and Puerto Rico on Falken- and Ohtsu-brand passenger, light truck and medium truck/bus tires;
• Oct. 1 — up to 10% in the U.S. and Canada on Falken- and Ohtsu-brand passenger, light truck and medium truck tires;
• Oct. 8 — up to 30% in the U.S., Canada and Puerto Rico on Ohtsu-brand and Sumitomo Rubber-produced private label products; and
• Dec. 1 — by an undisclosed amount in the U.S., Canada and Puerto Rico on Falken-brand medium truck tires.
• Jan. 1, 2022 — up to 8% in the U.S., Canada and Caribbean on Falken-, Ohtsu- and private-brand passenge rand light truck tires.

Toyo Tire U.S.A. Corp.

• May 1
• Aug. 1 — up to 8.5% on all tires in the U.S.
• Nov. 1 — by up to 2% to 8% on passenger and light truck tires.
• Feb. 1, 2022 — up to 10% on most consumer and commercial tires in the U.S.

Yokohama Tire Corp.

• Nov. 1 — by an undisclosed percentage on replacement consumer and commercial truck tires sold in the U.S.
• Aug. 1 — by an undisclosed percentage on replacement consumer and commercial truck tires sold in the U.S.
• May 1 — by an undisclosed percentage on replacement consumer and commercial truck tires sold in the U.S.
• Dec. 1, 2020 — by up to 6% on Dec. 1, 2020, on "select" commercial truck and bus tires.