RANCHO CUCAMONGA, CA - Kumho Tire U.S.A. Inc. will raise prices on all passenger, light truck, and medium truck tires effective March 1.
Kumho stated that the details of this increase will be provided to its customers in the near future. Kumho last raised its consumer and truck tire prices, up to 6.5 percent, on Nov. 1, 2010. Kumho is the latest tire manufacturer to announce an upcoming price increase.
"The unprecedented increase in raw material costs over the past few months have made it absolutely essential for Kumho to implement this increase," the company stated.
Modern Tire Dealer magazine also listed a number of other tire manufacturers that have announced price increases, including when these price hikes will go, or have gone, into effect.
Consumer Tire Price Increases
- Goodyear Tire & Rubber Co. will raise consumer tire prices on March 1. The increase, up to 6 percent, will apply to all brands in the United States and Canada.
- Falken Tire Corp. also will raise prices on March 1. The price hikes on Falken passenger and light truck tires will range from 5 percent to 8 percent depending on the size, with in-line adjustments as needed.
- Bridgestone Americas Tire Operations LLC will raise replacement and original equipment consumer tire prices one month later, on April 1, The increases on Bridgestone, Firestone and associate brand passenger and light truck tires in the U.S. and Canada will vary up to 8 percent.
- Cooper Tire & Rubber Co. (2.5 percent) and Michelin North America Inc. ("the increases will vary by product line") raised consumer tire prices on Feb. 1. Nexen Tire America Inc. (up to 8 percent) did the same on Jan. 1.
Commercial Tire Price Increases
- The Bridgestone Off Road Tire, U.S. & Canada Commercial Tire Sales division will increase prices on its mining, construction and industrial tires by 12 percent, "with some in-line adjustments." The increases are scheduled to begin March 1.
- The Bridgestone Agricultural Tire, U.S. & Canada Commercial Tire Sales division announced a 4 percent 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 will increase prices on Michelin brand replacement agricultural tires sold in the U.S. and Canada on March 1. The hikes will be up to 8 percent. The company already increased prices on its Michelin earthmover and industrial replacement tires sold in North America up to 7 percent on Feb. 1. It increased prices on Oliver and MegaMile retread rubber products sold in the U.S. up to 7 percent on Jan. 3.
- CGS Tyres Group (7.5 percent to 10 percent on farm and industrial tires), Titan Tire Corp. (up to 8 percent on farm and OTR tires), Yokohama Tire Corp. (up to 5 percent on bias and radial OTR tires) and Continental Tire the Americas LLC (up to 8 percent on truck tires) raised their commercial tire prices on Jan. 1.
Automotive Fleet has also reported on past price increases here.