ATLANTA—Apollo Tyres Ltd. said it will increase prices on its Vredestein brand up to 5 percent, effective March 1, including adjustments at article and pattern level.
Apollo said the price hike reflects increases in raw material cost and in global ocean freight rates.
"We continue our resolve in building the Vredestein brand in the U.S and Canada by providing best-in-class products from our global manufacturing facilities," Abhishek Bisht, Vredestein's assistant vice president for the Americas, said. "The Vredestein brand continues to be attractively positioned and a key contributor to our channel partners' profitability."
Several tire makers have announced price increases over the last three months. They include:
- Alliance Tire Americas Inc., "adjusting" warehouse and factory-direct order pricing across all product lines for Alliance-, Galaxy- and Primex-brand products by as-yet undisclosed amounts, effective Jan. 1.
- Bridgestone Americas Corp., select Bridgestone and Firestone passenger and light truck replacement tires sold in the U.S. and Canada by an undisclosed amount, effective Jan. 1;
- Goodyear, all Goodyear- and Dunlop-branded passenger and light truck tires in the U.S. by up to 5 percent, effective Dec. 1;
- Continental Tire the Americas L.L.C., select Continental- and General-brand passenger and light truck tires in the U.S., effective March 1. Conti did not specify the size of the increases, saying instead they will "vary across specific products by brand."
- Hankook Tire America Corp., lines of commercial truck tires in the U.S. by up to 5 percent on Dec. 1, varying based on SKU;
- Michelin North America Inc., Michelin- and BFGoodrich-brand passenger and light truck tires in the U.S. by up to 5 percent on Feb. 1, "due to changing business dynamics of the U.S. market."
- Pirelli Tire North America L.L.C., replacement car and light truck tires by undisclosed amount, effective Jan. 1;
- Sumitomo Rubber North America Inc., prices in the U.S. and Canada on Falken- and Ohtsu-brand consumer tires by up to 8 percent on Jan. and by up to 6 percent on medium truck tires, effective Dec. 1;
- Yokohama Tire Corp., consumer replacement tires sold in the U.S. by up to 5 percent, effective Nov. 1.