Greenville, South Carolina--Michelin North America Inc. is raising prices on a variety of tyres by as much as 5 to 12 percent, following increases announced earlier for Europe.
The company said it is hiking prices on March 1 for Michelin-brand passenger and light truck tyres by as much as 5 percent, and BFGoodrich, Uniroyal and private and associate brands up to 6 percent. Michelin and BFGoodrich commercial truck tyre prices will rise up to 6 percent.
The firm also is boosting prices 5 percent for earthmover tyre and up to 6 percent for radial and 12 percent for cross-ply agricultural tyres. Those increases take effect Jan. 1. General aviation tyre prices also will rise 5 percent worldwide as of April 1.
Parent Groupe Michelin said earlier in the month it will increase prices for all types of tyres sold in Europe by an average of 5 percent. The company blamed rising raw materials costs for the price change.
Bridgestone/Firestone and Continental North America Inc. also recently announced price increases.
Press release from Michelin