Hankook Tire is announcing a price increase effective May 1 for Hankook and Laufenn passenger and light truck products. Individual prices will vary by product within each brand portfolio and will be up to 8% for PCLT products overall. Additionally, Hankook says it will be increasing prices for its TBR products as well.

Hankook says these increases are the result of several factors including the rising cost of operations and raw materials, increased logistics costs and other market factors that have affected internal costs.

Hankook says it is working with its customers to provide more detailed information about the increases.