DIAMOND BAR, Calif. (Dec. 3, 2010)—Nexen Tire America Inc. is increasing prices on its tires up to 8 percent with in-line adjustments, effective Jan. 1.
The price increase will apply immediately on all factory direct orders submitted for production in January or later and will apply to all warehouse orders effective Jan. 1, Nexen said, adding that complete details on the increase will be provided “as soon as possible.”
Nexen cited the “rapid increase in the cost of raw materials” as the primary reason behind the price adjustment.