GREENVILLE, S.C. (Dec. 21, 2009)—Michelin North America Inc. has become the 10th tire maker to announce plans for a price increase.
The company said it will boost prices for all aftermarket tires it sells in the U.S. on Feb. 1, at varying rates.
The firm will hike prices by as much as 7 percent on Michelin- and BFGoodrich-brand commercial truck tires. The increase also will apply to Michelin Retread Technologies retreads.
Prices are going up, too, for Michelin, BFGoodrich, Uniroyal, private and associate brand replacement passenger and light truck tires. Michelin said the increases will vary by product line.
Price hikes of up to 4 percent also will be levied on Michelin earthmover tires sold in the replacement market, the firm said.
The company didn't give a reason for the increases. Other firms have blamed higher raw material and energy costs for their actions.