Federal Tire announced it will increase prices by 2.5% for North American customers effective April 1.
“We have tried to hold off as long as possible, but finally, we had no choice,” said Joe Kao, operations manager. “Raw materials cost increases along with increases in the general cost of doing business underscore the need to pass along a modest price increase of about 2.5%.”
Federal Tire is among a few other tiremakers to announce price increases this month. Bridgestone Americas recently announced a 20% price hike on its Dayton-brand TBR tires, and Toyo Tire USA Corp. is increasing its prices on commercial tires by 5% by the start of May. Earlier this year, Bridgestone also increased prices on its Firestone-brand TBR tires by 4%.
Recently, Federal Tire debuted its Xplora MTS, a new MT summer hybrid tire designed for the urban custom light truck market that has already won numerous design awards.
