Tiremakers Announce Upcoming Price Hikes Up to 6.5%
AKRON, OHIO - Cooper Tire & Rubber Co., Falken Tire Corp., Hankook Tire America Corp., Kumho Tire U.S.A. Inc., and Toyo Tire U.S.A. Corp. will raise tire prices come Nov. 1, according to Modern Tire Dealer.
Effective Nov. 1, MTD reported the following price increases:
- Cooper (North America): Up to 6.5 percent.
- Falken: Up to 8 percent on passenger, light truck, and medium truck tires.
- Hankook: Up to 6.5 percent on full line of passenger, light truck, and medium truck tires.
- Kumho: Up to 6.5 percent (excluding in-line adjustments) on its full line of passenger, light truck and medium truck tires.
- Toyo: Up to 6 percent on passenger, light truck and commercial truck tires, with in-line adjustments.
Not too far off in the future, Pirelli Tire North America will raise consumer tire prices in the United States up to 7 percent effective Dec. 1, according to MTD.
Goodyear Tire & Rubber Co. recently raised its consumer tire prices up to 6 percent on Oct. 1, according to MTD.