Titan to hike US prices by up to 8 percent

ERJ staff report (R&PN)

Quincy, Illinois -- Titan Tire Corp. will raise prices in North America on all Titan-brand farm, OTR and industrial tyres and Goodyear-brand farm tyres by up to 8 percent effective Jan. 1 because of rising raw material and transportation costs.

Some tyres may have a higher price hike due to repositioning of the product, the company said.

Titan attributed the need for a price increase to “natural rubber prices continuing to escalate to all-time highs” and the rising costs of other raw materials and transportation.

The latest price hike comes on the heels of a 3- to 10-percent increase on Titan-brand OTR tyres Oct. 1 and a rise of about 6 percent on Titan-brand farm and construction tyres and Goodyear-brand farm tyres on June 1.

From Rubber & Plastics News (A Crain publication)

Press release from Titan