Akron, Ohio – For the second time this year, Goodyear will increase prices across of all its brands in the US and Canada.
In an email statement 4 April, the tire maker said it will increase prices by approximately 6% beginning 1 May. This is in addition to a previously announced price increase that took effect 1 Feb.
According to a company spokesperson, the rising costs of raw materials is a key factor driving the second price hike.
Raw materials costs have been a driving force that has lead tire makers and their suppliers to increase prices this year.
Continental Tire the Americas announced in March that it would raise prices on its passenger and light truck tires beginning 1 May. Around that same time, Trelleborg said it would increase prices on its farm and forestry tires beginning 1 April.
Other companies to have most recently announced price hikes are Alliance Tire America Inc.; Giti Tire (USA) Ltd.; Maxam Tire North America Inc.; Pirelli Tire North America/TP Commercial Solutions L.L.C; and Titan International Inc.