WAYNE, N.J. (Sept. 7, 2011)—Hankook Tire America Corp. adjusted prices in the U.S. Sept. 1 on most of its passenger and light truck tire lines, raising prices on its ultra-high-performance lines while lowering prices on its touring tires.
The price increases were 2 to 4 percent, depending on line and in some cases size, Hankook said.
At the same time, Hankook cut the prices of its Optimo H426/418 and H724 touring tire lines by 5 to 7 percent, depending on size. The price cuts for the H724 were effective Aug. 22.
The company cited rising raw materials costs and changing foreign currency exchange rates for its actions.
Hankook last raised consumer tire prices in the U.S. on April 1, by a weighted average of 7 percent.