Tire Manufacturers Announce Latest Price Increases

Tire Manufacturers Announce Latest Price Increases

President Donald Trump announced on July 10, a new trade policy to increase tariffs by 10 percent for various imports from China, including tires.

All tires are included in the tariff: Passenger tires, racing tires, motorcycle tires, bicycle tires and off-the-road tries, as well as bus and truck tires.

However, U.S. tire manufacturs are also seeing an increase in prices, due in part to the increase in synthetic and natural rubber prices, and they are passing along the costs to customers.

Bridgestone Americas Tire Operations said Tuesday it will increase prices by 10 percent on Dayton brand truck and bus radial tires that are sold across North America. Bridgestone Americas added it is responding to increased business costs with this price increase that went into affect on tires shipped on or after Sept. 24.

Kumho Tires said earlier this month it will also increase prices for all passenger, light truck and medium-duty truck tires that are sold in the U.S., starting on Oct. 1. The 6 percent increase reflects the increase in raw material costs, the company added.

Last modified onTuesday, 25 September 2018 16:20