ERJ staff report (TB)
Greenville, South Carolina - Due to increasing raw material prices, Michelin North America Inc. is increasing prices by an average of 12 percent on Michelin- and BFGoodrich-brand replacement commercial truck tyres, as well as Michelin Retread Technologies (MRT) retreads sold in the US, effective July 1.
The Greenville-based tyre maker's latest action follows earlier price increases it levied on its tyre lines. In March the company's Michelin North America (Canada) Inc. announced it would increase prices on various tyre lines sold in Canada up to 7 percent, effective April 1, affecting Michelin- and BFGoodrich-brand commercial truck tyres along with passenger and light truck winter replacement tyres.
On May 1 Michelin North America raised prices up to 8 percent on Michelin-brand earthmover replacement tyres in the US and Mexico. Also on that date the firm hiked prices on Michelin-, BFGoodrich-, Uniroyal-, private- and associate-brand passenger and light truck replacement tyres in the US by up to 8.5 percent, due to increasing raw material prices.
Other price increases announced earlier included the following tyre lines: Commercial truck tyre and retread prices rose by an average of 12 percent, effective March 1, on Michelin- and BFGoodrich-brand tyres, as well as Michelin Retread Technologies (MRT) and Oliver retread products sold in the US; and motorcycle tyre prices increased by up to 8 percent April 1 on Michelin-brand replacement motorcycle tyres sold in Canada, Mexico and the US.
On Feb. 1 Michelin increased prices on earthmover and industrial replacement tyres by 7 percent in North America, and by the same percentage on Oliver and Mega-Mile retread products, effective Jan. 3.
From Tire Business (A Crain publication)