AKRON—Ten tire makers have announced tire price hikes from 4 to 8 percent on various lines because of rising raw materials, energy and transportation costs.
Goodyear, Continental Tire North America Inc., Kumho Tire USA Inc., Hankook Tire America Corp., Pirelli Tire North America Inc., Yokohama Tire Corp., Michelin North America Inc., Toyo Tire (U.S.A.) Corp., Federal Corp. and Nexen Tire Corp. are all raising prices this summer.
Goodyear will increase prices on passenger and light truck tires up to 5 percent, effective June 1, specifically on its Goodyear, Kelly, Dunlop and Republic brands, and all associate brands. Goodyear also boosted prices up to 6 percent May 15 on its Goodyear, Dunlop, Kelly and private brands of commercial tires.
Conti plans to hike prices 4-6 percent on its Continental, General and Semperit commercial tires and on private brand truck tires, effective June 1. Conti also will raise prices for passenger and light truck tires, although it didn´t say by how much.
Kumho Tire will increase prices up to 8 percent June 1 on its passenger, light truck and commercial truck tires. Exact increases will vary by tire model, the firm said.
Hankook and Toyo will boost prices up to 6 percent and 8 percent, respectively, effective July 1. Hankook said its increase will apply to its full line of passenger, high-performance, light truck and medium truck tires. Toyo said its prices will rise in "all product categories."
Yokohama plans to increase prices across the board on its consumer tires up to 7 percent, effective July 1. The increases apply to Yokohama, Mohawk and private brand consumer tires.
The Fullerton, Calif.-based tire maker earlier said it would hike prices by 5-6 percent on its truck and bus and light truck commercial tires, effective June 1.
Pirelli will raise prices on its passenger and light truck tires by 5 percent, effective June 1.
Michelin also recently said it will boost prices on OE and replacement tires up to 8 percent in July.
Federal is raising prices on its tires up to 5 percent, some of which already took effect April 1. The firm didn´t indicate when any remaining increases would take effect.
Nexen will increase its tire prices in North America up to 7 percent, effective July 1. The company said the price hikes apply to all of its product categories in its house, associate and private brands. The specific price increase will vary by product line and size.