Price Hikes on Replacement Tires Coming June 1
AKRON, OHIO - Eleven tiremakers will implement price increases next Tuesday, June 1, reported Modern Tire Dealer.
Price increases, according to MTD, include:
- Bridgestone Americas Tire Operations LLC: up to 6 percent on Firestone and Dayton brand truck and bus tires.
- Continental Tire the Americas LLC: up to 7 percent increase on medium truck tires.
- Falken Tire Corp.: up to 4 percent on medium truck tires.
- Hankook Tire America Corp.: up to 6 percent on medium truck tires.
- Toyo Tire U.S.A. Corp.: up to 8 percent on commercial truck and OTR tires.
These increases follow a wave of price hikes that went into effect May 1. On that day, Goodyear Tire & Rubber Co. raised its medium truck tire prices (North America only) up to 8 percent, while Michelin North America Inc. raised prices on its U.S. replacement truck tires between 3-7 percent.
Tiremakers are citing escalating raw material, energy, and transportation costs as reasons for the price increases, MTD reports.