Michelin & Cooper Announce Upcoming Price Increases
GREENVILLE, SC AND WASHINGTON - Michelin North America Inc. and Cooper Tire & Rubber Co. have announced price increases for June, reported Modern Tire Dealer.
Michelin North America Inc. will increase prices on its Michelin, BFGoodrich, Uniroyal, private and associate brand passenger and light truck tires up to 6 percent on June 1, replacement channel only.
Michelin also will hike its motorcycle tire prices by the same amount on the same day.
Earlier this month, Michelin announced it will raise prices on replacement truck tires sold in the U.S. by 3-7 percent, effective May 1. The same day, Michelin also will hike its U.S. and Canada ag tire prices by an average of 4.5 percent.
In addition, Michelin will raise prices on its Michelin Retread Technologies retreads between 3-7 percent on May 1.
Cooper Tire & Rubber Co. will increase prices on all of its passenger and light truck tires up to 7.5 percent, effective June 1.
Only North American tires will be included in the increase. "Percentage increase will vary between product lines," said Cooper officials, reported MTD.
Cooper made the decision to raise prices due to escalating raw material prices, according to MTD.