TAIPEI, Taiwan (May 7, 2008) — Federal Corp. will raise prices for its Federal and Hero brand tires by 10 percent for Taiwan-made products and 16 percent for Chinese-made ones before August.
The Taipei-based manufacturer cited hikes in raw material and energy costs as the main reason for the price increases. It also said rising labor costs for Chinese-source tires are a factor in the price hike.
Federal last raised its prices by 5 percent on April 1.