Goodyear to Increase Truck Tire Prices Up to 15 Percent
AKRON, OHIO - Goodyear Tire & Rubber Co. will raise prices on its commercial truck tires on April 1, 2011. The increases will apply to all the company's brands, plus its tread rubber.
The increases are as follows:
- up to 15% on truck tires;
- up to 7% on tread rubber.
A Goodyear spokesman cited rising raw material costs "and other factors" as the reason for the price hikes.
Continental Tire the Americas LLC will increase the price of its Continental, General and AmeriSteel brand truck tires by 10% effective April 1 for replacement sales channels in the U.S. only.
The reason for the price hike is the continued escalation of raw material and energy costs, the company says.
Goodyear is the latest tire manufacturer to announce higher prices in the United States this year. Here's a list of recent increases:
- Continental Tire the Americas LLC will increase the price of its Continental, General and AmeriSteel brand truck tires by 10% effective April 1 for replacement sales channels in the U.S. only.
- Yokohama Tire Corp. will implement a price increase on all of its light and medium commercial truck tires in the United States effective April 1, 2011. Prices will be raised an average of 8%, with in-line adjustments.
- Double Coin and China Manufacturers Alliance LLC (CMA) hiked commercial tire prices an average of 13% on March 1. The price increases applied to the Double Coin radial truck and bus tires, all of its private brand radial truck and bus tires, and Double Coin radial off-the-road tires.
- Toyo increased prices on its commercial truck and OTR tires by an average of 8%, with in-line adjustments, on March 1.
- Michelin increased prices on its commercial products in the U.S. effective March 1. The company also raised prices an average of 12% on Michelin and BFGoodrich truck tires and Michelin Retread Technologies and Oliver retread products.
- (Michelin also is raising prices on its Michelin and BFGoodrich truck tires sold in Canada up to 7% on April 1.)
- Michelin and BFGoodrich passenger and light truck winter replacement tires sold in Canada.
- Hankook will increase prices on its medium truck tires by a weighted average of 9%. The increases will go into effect on tire shipments made on or after March 15, 2011.
- Titan Tire Corp. will raise prices on its farm and construction tires effective April 1, 2011. The increases, up to 8%, will apply to both Titan branded products and Goodyear branded tires manufactured by Titan. Certain tire prices "may rise in excess of 8% due to realignment and positioning of the product," said the company.
- Cooper Tire raised its commercial truck tire prices 12% across the board during the week of Feb. 6, 2010.
- The Bridgestone Off Road Tire, U.S. & Canada Commercial Tire Sales division increased prices on its mining, construction and industrial tires by 12%, "with some in-line adjustments" on March 1.
- The Bridgestone Agricultural Tire, U.S. & Canada Commercial Tire Sales division announced a 4% price increase effective April 1 on the following tires: Firestone agricultural, construction and forestry tires; Bridgestone garden tires; and Regency tires sold in the United States and Canadian replacement markets.
- Michelin increased prices on Michelin brand replacement agricultural tires sold in the U.S. and Canada on March 1. The hikes were up to 8%.
- The company already increased prices on its Michelin earthmover and industrial replacement tires sold in North America up to 7% on Feb. 1. It increased prices on Oliver and MegaMile retread rubber products sold in the U.S. up to 7% on Jan. 3.
- CGS Tyres Group (7.5% to 10% on farm and industrial tires), Titan Tire Corp. (up to 8% on farm and OTR tires), Yokohama Tire Corp. (up to 5% on bias and radial OTR tires) and Continental Tire the Americas LLC (up to 8% on truck tires) raised their commercial tire prices on Jan. 1.