As you know, with the Economy in the state that it is, prices are on the rise. Tire prices are going up again in January 2010. With the new Chinese Tarriff in effect, and the cost of materials rising, this surely is not surprising. Below are a few articles I would like to share to our customers for a better understanding on the raising prices on tires!
Hankook raising prices Jan. 1 up to 5%
Tire Business staff report
WAYNE, N.J. (Dec. 4, 2009) — Hankook Tire America Corp. is raising prices by up to 5 percent in the U.S. on its full line of passenger, light truck tires and medium duty truck tires, effective Jan. 1.
The amount of the increase will vary by product line and/or size, Hankook said.
“The ongoing rise in the cost of raw materials and energy consumed in manufacturing and distribution continues to impact our industry,” said Todd Hershberger, senior vice president. “We are making every effort possible to control costs and improve and expand our production capacity.”
The last time Hankook Tire raised prices in the U.S. was Oct. 1, 2008.
Toyo raising prices by up to 6% Tire Business staff report
CYPRESS, Calif. (Dec. 4, 2009) — Toyo Tire U.S.A. Corp. will increase prices Jan. 1 on Toyo-brand consumer and commercial tires by up to 6 percent, depending on product, due to escalating raw material costs.
“We appreciate the continued support and understanding of our dealers as we manage our firm commitment to providing the highest quality products, with the steep increase in costs affecting our industry,” said John Hagan, senior director, sales operations for Toyo Tire U.S.A. Corp.
Toyo last raised prices in the U.S. on Nov. 1, by up to 5 percent for its Extensa A/S passenger tires and Open Country H/T and A/T light truck tires. Prior to that Toyo’s last price increase was Oct. 1, 2008.
Kumho to raise prices up to 8% Tire Business staff report
RANCHO CUCAMONGA, Calif. (Dec. 4, 2009) — Kumho Tire U.S.A. Inc. will raise prices Jan. 1 on Kumho-brand passenger, light truck and commercial tires by up to 8 percent to offset the rising cost of raw materials.
Kumho last raised tire prices in the U.S. Oct. 1 but only on tires imported from China. That increase was up to 12 percent.
Prior to that, Kumho’s last price increase was Sept. 1, 2008.
Rancho Cucamonga-based Kumho Tire U.S.A is the U.S. distribution arm of South Korea’s Kumho Tire Co. Inc.
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