Federal Tire Announces Second Price Hike
TAIWAN -- Federal Tire Corp. will implement a price adjustment on Federal and Hero brand tires prior to August 2008, according to Modern Tire Dealer magazine. The last price hike the company announced "can only offset the increase of cost in the fourth quarter of 2007."
The company said that it is forced to adopt a price increase of up to 10 percent for its product of Taiwan origin and 16 percent for its Chinese-made products. The increase in costs for raw materials and energy was the deciding factor behind the price hikes.