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March 20, 2008 02:00 AM

Nexen increasing tire prices

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    ONTARIO, Calif. (March 20, 2008) — Nexen Tire America Inc. said it will boost prices by 7 percent across the board on tires out of warehouse only, not factory-direct, effective April 1.

    The increase will cover all tire types with the exclusion of 19-inch and higher ultra-high-performance tires, according to John Aben, vice president of sales and marketing. He cited the cost of fuel, freight and raw materials for the price hike.

    The Ontario-based tire marketer—owned by South Korea's Nexen Tire Corp.—last raised prices between 2 and 7 percent Jan. 1 on its passenger and light truck tires.

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