Hankook Will Increase Prices Up to 5%
WAYNE, NJ – Hankook Tire America Corp. is the latest in a long line of tiremakers to announce more price increases, according to Modern Tire Dealer magazine. The company will hike prices on its full line of passenger, high-performance, light-truck, and medium-truck tires up to 5 percent, effective Oct. 1. Increases will vary by product line and/or size.
Three other tire companies will increase prices on Oct. 1: Falken Tire Corp. will raise prices on five different tires (the Ziex ZE-512, RT615, Radial A/P, Landair H/T, and STZ04) by 5 to 7 percent; Federal Tire Corp. will hike prices on its full line of tires by 7 percent; and Yokohama Tire Corp. will hike its passenger, light-truck, medium-truck, bus, and commercial light-truck tires up to 7 percent and its radial and bias OTR tires up to 8 percent.
Modern Tire Dealer magazine also reported that on Sept. 1, Bridgestone Firestone North American Tire LLC will hike prices on its Bridgestone, Firestone, Dayton, Fuzion, private, and associate brand passenger and light truck tires — plus its truck, bus, OTR, and farm tires — up to 4 percent.
Other companies to recently raise prices include Goodyear Tire & Rubber Co., Continental Tire North America Inc., Michelin North America Inc., Kumho Tire U.S.A. Inc., and Nexen Tire America Inc.