Michelin and Bridgestone have become the latest tire manufacturers to announce increases in the prices of their products.
Michelin North America announced it will increase prices by up to eight percent for its passenger, heavy-truck, earthmover, industrial-handling, agriculture and two-wheel segments across all of the company’s brands in the United States, Canada and Mexico.
The increase will be implemented separately by individual segments; customers will be notified directly with specific details.
Michelin said the increase represents the company’s first price rise since 2012 — and was due to the net effects of raw material prices as well as the company’s market-leading technology enhancements, innovations and other market conditions.
Last week Bridgestone Americas Tire Operations joined Nexen, Carlstar, Cooper and Goodyear in announcing price rises.
Bridgestone’s prices will also rise by up to eight percent across a range of passenger, light truck, OTR and agricultural tires, and tubes, in the entire North American region. The price increases will vary between product lines and the various units of the Bridgestone business.
Traction News will continue to bring you information about price increases as they are announced.