Here They Come: Tiremakers Bring Price Hikes

Here They Come: Tiremakers Bring Price Hikes

To no one's surprise, tiremakers are piling on price increases as we head into the new year.

After taking much of the last two years off, price increase announcements are coming hot and heavy in the wake of slight rises in raw material costs and the after effects of the recent 35% added tariff on China-made tires imported into the U.S. Analysts had expected the increases as U.S. makers sought to maintain price separation between their premium products and anticipated tariff-driven increases of lower tier tires.

Just recently, Bridgestone Americas, Continental Tire North America and Yokohama Tire Corp. made increase announcements, joining Nexen Tire America and Goodyear, which had previously made price adjustments.

Bridgestone will take increases up to 5% on its Bridgestone, Firestone and associate brand consumer tires – both OE and replacement – as of Jan. 1, 2010.

Yokohama is adding up to 6% to the pricing of its consumer tires as of Jan. 1, and plans to make inline adjustments at a later date.

Continental is increasing prices up to 5% on all Continental, General and associate lines, also as of Jan. 1.

Previously, Nexen announced an 8% price increase, and Goodyear added up to 6% on its pricing as of Dec. 1.

Courtesy of TIRE REVIEW.

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