AKRON, OHIO - Goodyear Tire & Rubber Co. is the latest tire manufacturer to announce upcoming price increases. The company will raise prices on all consumer tires in North America up to 6 percent effective June 1.
A Goodyear spokesman cites rising raw material and transportation costs as the reasons for the increases.
In addition to Goodyear, Nexen Tire America Inc., Kumho Tire U.S.A. Inc., Yokohama Tire Corp., Hankook Tire America Corp., Cooper Tire & Rubber Co., Falken Tire Corp., Bridgestone Americas Tire Operations LLC and Continental Tire the Americas LLC also will raise tire prices on June 1.
Nexen: An 8 percent price increase will apply to all warehouse orders and June factory direct container production.
Kumho: Passenger and light truck tire prices will be raised up to 8 percent effective. A company spokesman says there also will be additional inline adjustments.
Yokohama: The company will raise its consumer prices up to 8 percent, and also will make some in-line adjustments.
Hankook: Passenger, light truck and medium truck tire prices will be increased up to 6 percent, although specific increases will vary by product line and tire size.
Cooper: Prices on all of Cooper's passenger and light truck tires will increase by up to 7.5 percent. The company says only its tires sold in North America will be affected.
Falken: Consumer tire prices will increase up to 6 percent; radial medium truck tire prices will rise up to 4 percent.
Bridgestone: The prices on the company's Bridgestone, Firestone and associate brand passenger and light truck tires in the United States will be increased up to 6 percent. Prices on Firestone and Dayton brand truck and bus tires will be raised up to 6 percent.
Continental: Passenger and light truck tire prices will increase up to 6 percent, while medium truck tire prices will increase up to 7 percent. All Continental, General and proprietary brands will be affected.
Pirelli Tire North America will increase replacement passenger and light truck tire prices 4 percent effective one month later, July 1, 2010. The increase will apply to tires sold in the United States.
Michelin North America Inc. raised prices on replacement truck tires sold in the U.S. by 3 percent to 7 percent on May 1. The same day, Michelin hiked its U.S. and Canada ag tire prices by an average of 4.5 percent.
Goodyear also raised commercial truck tire prices effective May 1. Increases up to 8 percent applied to the company's truck tire brands in North America. In addition, Goodyear increase tread rubber prices by up to 7 percent.