Michelin, Bridgestone to raise tire prices in May, June

AKRON—Anyone looking for tires in the U.S. and Canada, should expect to pay a little more.

Two of the world's largest tire makers have announced additional price increases for North America.

Prices will increase across Michelin North America Inc. brands on June 1. In the U.S. and Canada, that means a price hike between from 5 and 12 percent on the majority of passenger and light truck replacement tires and service offers.

The tire maker also will increase prices up to 9 percent on motorcycle tires, and up to 12 percent for on-road and off-road commercial products and service offers.

Michelin said price changes may vary across specific products, channels and countries within each brand portfolio. It said it will provide more details to dealers, end-users and commercial equipment manufacturers by May 15 with additional questions addressed directly through account managers.

This latest action marks the fifth time Michelin has announced price hikes in the past year in North America, most recently on April 1, citing "market dynamics."

Meanwhile Nashville-based Bridgestone Americas Inc. said it is raising prices on all Bandag tread rubber and cushion in the U.S. and Canada by up to 17 percent, beginning May 2.

Bridgestone said the price hike is in response to current market dynamics, and that the prices of ancillary products also will be increased, based on current market conditions.

Members of the Bridgestone commercial sales teams will be contacting customers to provide more details about the changes.

This marks the fourth increase of 2022 for Bridgestone.

That increases also applied to agricultural tubes, bladders and tracks, Bridgestone said.

In March, Bridgestone increased prices on non-winter Bridgestone-, Firestone- and Fuzion-brand passenger and light truck replacement tires sold in the U.S. and Canada. That increase took effect April 1.

On Jan. 1, the company increased prices on Bridgestone-, Firestone- and Fuzion-brand passenger and light truck replacement tires and Bridgestone motorcycle tires.