CHARLOTTE, NC -- Continental Tire North America Inc. (CTNA) will raise prices on its Continental, General, and proprietary brand passenger and light truck tires sold in the United States and Canada up to nine percent, according to Modern Tire Dealer magazine.
In the United States, hikes will go into effect on Jul. 1. In Canada, they will go into effect approximately one month earlier. Increases will vary by market line and/or tire size.
The price increase is a result of the escalation of transportation, energy, and raw material costs, according to Andreas Gerstenberger, executive vice president of marketing and sales, for CTNA's PLT (passenger and light truck) unit.