May 20, 2008
Expect Price Increases on Hankook Tires Effective July 1
WAYNE, NJ – Hankook Tire America Corp. will raise prices up to eight percent on its full line of passenger, high performance and light truck tires effective Jul. 1. At the same time, the company will raise prices up to five percent on its medium truck tires, according to Modern Tire Dealer magazine. The amount of the increase will vary by product line and/or size.
Hankook said the price increases are consistent with price hikes announced recently by other major tire manufacturers. (Goodyear Tire & Rubber Co., Continental Tire North America Inc., Michelin North America Inc., Cooper Tire & Rubber Co., Falken Tire Corp., and Federal Tire Corp. have announced price increases since Apr. 30.)