Michelin, Goodyear add to tire price rises in North America

Greenville, South Carolina – Michelin North America Inc. is planning to raise prices in the US on commercial products and services 1 Dec and on passenger and light-truck tires in the US and Canada on 1 Jan.

The commercial price increase of up to 8% refers to national account prices in the US for all commercial brands, products and services.

On the consumer side, Michelin will increase prices up to 5% for passenger and light-truck tires under the Michelin, BFGoodrich and Uniroyal brands, as well as Michelin-brand two-wheeler tires, sold in the US and Canada.

The increases address ongoing investments to improve customers service and reflect increased operating costs and other market factors. Michelin's account management teams will convey additional details about the changes directly to customers.

Michelin last increased prices in North America in January 2017, raising them 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.

Goodyear has also announced that it is raising prices in the US on all of its brands of commercial tires and retreads, most up to 4%, effective 1 Dec.

The Akron-based tire maker also is increasing the price of select commercial services, most up to 4%, in the US only.

Goodyear said the increases "are in response to higher business costs and reflect the strong value of the Goodyear brand."

This is the second price increase Goodyear has initiated this year. On 1 Sept, it raised prices on "select consumer tire lines" in the US, most up to 3%. Goodyear also attributed that increase to "rising costs and reflects the strong value of the Goodyear brands."

Other pending price increases include:

Toyo Tire U.S.A. Corp.—raising dealer base prices on 1 Jan by an undisclosed amount on select passenger and light truck tires and by up to 2% on most commercial truck tires;

Bridgestone Americas—raising national account, national fleet and national fleet preferred-account prices on all Bridgestone and Firestone truck and bus tires and Bandag retreads sold in the US and Canada, effective 9 Nov and varying by product line and service.

Bridgestone also raised prices 1 Oct on all passenger and light truck tires by up to 3.5%, varying by product line and 10% on 24 Sept on Dayton-brand truck and bus tires sold in the US and Canada.

Other recent price increases already in effect include:

Giti Tire USA raised prices by up to 5% on passenger, light truck, SUV and CUV tires, and up to 10% on all truck/bus tires, effective 1 Nov.

Alliance Tire Americas Inc. raised prices by up to 4% across all product lines for the Alliance, Galaxy and Primex brands, effective 1 Nov.

Nexen Tire America Inc. raised prices on all passenger and light truck tires sold in the US up to 6%, varying by tire line, effective 1 Nov.

Cooper Tire & Rubber Co. raised replacement market prices in the U.S. by up to 4% on all Cooper-produced passenger and light truck tire brands, effective 1 Oct.

Kumho Tire USA Inc. raised prices on its passenger, light truck and medium truck tires sold in the U.S. by up to 6 percent, effective 1 Oct.