April 11, 2008
Kumho Will Raise Prices in May
RANCHO CUCAMONGA, CA – Kumho Tire U.S.A. Inc. will raise its tire prices up to 10 percent depending on tire line and model, effective May 1, according to Modern Tire Dealer magazine. Rick Brennan, vice president of marketing for Kumho, cites "continuing price increases for raw materials and rising transportation costs as the reasons for the increase."
Kumho last raised prices on Feb. 1. The Kumho increase will follow three price increases slated to take effect in April.
Federal Corp. will raise prices on all of its Federal and Hero brand tires by five percent next month. Nexen Tire America Inc. will raise prices on tires shipped out of its warehouse by seven percent, effective Apr. 1.
Also on Apr. 1, Groupe Michelin will raise prices on all of its original equipment passenger and light truck tires sold worldwide.