AKRON (Dec. 17, 2010)—Six tire companies are raising prices—most averaging 8 percent—on commercial and/or consumer tires as the year comes to an end.
The rapid rise in raw materials costs and increased manufacturing expenses are blamed for the following price hikes:
— Michelin North America Inc.—an average of 8 percent Dec. 1 for Michelin- and BFGoodrich-brand truck tires and Michelin retreads in the U.S., and an unspecified percentage Feb. 1 on passenger car and light truck tires.
— Continental Tire the Americas—up to 8 percent Jan. 1 for replacement Continental-, General- and AmeriSteel-brand truck tires in the U.S. and up to 6.5 percent in the U.S. on all Continental, General and proprietary brand passenger and light truck tires in the U.S.
— Yokohama Tire Corp.—up to 6 percent Jan. 1 for commercial truck tires and up to 5 percent on OTR tires in the U.S.
— Titan Tire Corp.—up to 8 percent Jan. 1 for all Titan-brand farm, OTR and industrial tires and Goodyear-brand farm tires in North America.
— Nexen Tire America Inc.—up to 8 percent with in-line adjustments Jan. 1; and
— Czech tire maker CGS Tyres—7.5 to 10 percent Jan. 1 for various farm, industrial motorcycle and OTR tires.