NASHVILLE, Tenn.—Hankook Tire America Corp. plans to raise prices on its lines of commercial truck tires in the U.S. by up to 5 percent on Dec. 1, due to the changing market conditions related to production and shipping costs. The price hikes will vary based on SKU.
Hankook is the third tire company to announce price hikes on truck/bus tires in the U.S.
The others are:
- Yokohama Tire Corp.—by up to 6 percent, effective Dec. 1, on "select" tire lines.
- Bridgestone Americas Corp.—on radial Firestone truck and bus tires, effective Nov. 1, by an average of more than 5 percent, with some prices by more than 8 percent.
Hankook last raised prices on truck/bus tires in the U.S. in April 2019.