Michelin to Hike Replacement Tire Prices

GREENVILLE, SC - Michelin North America Inc. will raise prices on replacement truck tires sold in the U.S. by 3 to 7 percent on May 1. The same day, Michelin also will hike its U.S. and Canada ag tire prices by an average of 4.5 percent, reported Modern Tire Dealer.

In addition, Michelin will raise prices on its Michelin Retread Technologies retreads between 3-7 percent on May 1.

Michelin officials say the price increases are necessary due to escalating raw material prices, MTD reported.