Major tire makers named in US ‘price fixing’ lawsuit

Manhattan, New York – A number of major tire makers have been sued in a US federal court over allegations of price-fixing, days after the launch of an EU probe into possible cartel activities in European tire markets.

The lawsuit, filed by a US citizen in Manhattan, alleges that Michelin, Continental, Nokian, Pirelli, Goodyear and Bridgestone, along with unidentified “other individuals or entities” had a ‘per se unlawful agreement’ to “artificially increase and fix" tire prices.

The lawsuit concerns new replacement tires for passenger cars, vans, trucks and buses tires sold in the US.

Filed 7 Feb, the lawsuit seeks ‘class action’ for damages to “all persons or entities that purchased tires directly from defendants within the US from 1 Jan 2020.”

The legal documents went on to explain that for most of the 2010s, the price level of tires was “stable, changing only by small amounts slowly.”

However, according to the lawsuit, over the last four years “prices of tires have seen dramatic increases, driven by lock-step prices increases from the major US tire manufacturers.” (table from legal documents)

The move comes just days after the European Commission raided the European headquarters of major tire makers to investigate the allegations of price-fixing (See ERJ report).