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
Joining the increasing list of tire manufacturers announcing a pricing hike, Bridgestone Americas and Falken Tires are set to increase pricing.
Effective April 1, Yokohama Tire Corp. will increase prices by up to 7% on all of its tires sold in the U.S., including consumer, commercial and off-the-road.
Michelin North America announced it will increase prices up to 8% for its passenger, heavy-truck, earthmover, industrial-handling, agriculture and two-wheel segments across all its brands in the United States, Canada and Mexico.
Marangoni Industrial Tyres will increase the sales price for all products in its division by 6%, beginning Feb.1.
The Rubber Manufacturers Association is predicting total U.S. tire shipments will surpass 315 million units in 2016. Steady economic improvement, low fuel prices and increases in miles traveled should create favorable conditions for growth in 2016, RMA said. According to the forecast, original equipment passenger and light truck shipments are expected to see the largest