Tire Prices to Increase in 2017
Major tire manufacturers have announced a hike in tire prices for all types of tires, mostly starting this spring, commercial tires included.
Yokohama announced it will increase prices on all tires sold in the U.S. by up to 7%. The company says the price rise is driven by the high cost of raw materials and freight expenses.
Michelin North America is raising tire prices across the continent by about 8%, but reminded customers that there hasn’t been a rate hike in their tires since 2012.
Bridgestone Americas Tire Operations will adjust prices on all tires up to 8%, citing rising material costs and current market conditions as the primary reasons for the hikes.
Some of the increases have already begun as of March 1st. Other tire manufacturers upping their prices include Goodyear Tire and Rubber Company, the first major manufacturer to increase tire prices and Cooper Tire will raise costs, but the company has yet to settle on how much they will increase their prices.
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