AKRON (April 26, 2010)—Nankang Rubber Tire Corp. Ltd. raised prices on its all series products in North and South America by 6 to 8 percent, effective April 20.
The price adjustment affects all tire types—passenger, 4x4, SUV and winter tires, Nankang said.
The tire maker said the price increases are due to the escalation of raw materials and energy-related expenses.
“We appreciate the support and understanding of our customers. It was a very difficult decision to raise prices, and we need relative income to maintain (the) same service to our value customers,” said Eric Shih, manager of Nankang Tire's export department.
The company last raised prices in November 2009.
Nankang-brand tires are distributed in North America by Tireco Inc.