Michelin, Yokohama among those set to hike prices

Rising costs of raw materials are driving increased tire prices worldwide. Michelin North America Inc., Yokohama Tire Corp. and Marangoni Industrial Tyre are among the most recent to announce tire price increases.

Michelin said it would raise prices up to 8% for its passenger, heavy truck, earthmover, industrial-handling, agriculture and two-wheel segments across all of the company’s brands in the US, Canada and Mexico.

Citing the effects of raw material prices as the reason for the move, the Greenville, South Carolina-based tire maker said this increase represents…

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