WAYNE, N.J. (Oct. 26, 2010)—Hankook Tire America Corp. has told its customers it is holding off on increasing consumer and commercial tire prices until Dec. 1 because of a supply problem.
The original price hike was announced Sept. 30 and scheduled for Nov. 1. At the time the company said it would boost prices in the U.S. by up to 6.5 percent on its full line of passenger, light truck and medium-duty truck tires.
The costs of energy, raw materials and transportation were cited as reasons for the price change.
Hankook last raised prices on passenger, light truck and medium-duty truck tires by up to 6 percent June 1.