Most major tire builders in the United States have announced they are hiking prices, with some of the increases going into effect as early as March 1.
The price upswings typically are across all tire lines and brands.
Two significant suppliers to the bus and motorcoach industry, Michelin North America and Bridgestone Americas Tires, both announced price increases for each company’s tire lines, citing rising material costs and market conditions.
Michelin is increasing prices up to 8 percent for virtually all segments and across all brands in North America.
The company said the increases will be implemented separately by the individual segments. Customers will be notified directly with specific details, but Michelin didn’t say how quickly it planned to roll out the price hikes.
Michelin said its pricing actions represented its first increase since 2012.
Bridgestone Americas Tires also is increasing prices by 8 percent across a range of commercial and non-commercial tire lines. The increases also will affect the company’s retread products and tubes in North America.
The new pricing takes effect March 1 and will vary by business unit and product line.
Yokohama Tire Corp. announced it will increase prices by up to 7 percent on all of its tires sold in the U.S. The increase goes into effect April 1.
“This pricing action is necessitated by the high cost of raw materials and freight expenses that have impacted us in 2016 and will continue to be a factor in the business,” said Rick Phillips, Yokohama Tire vice president of sales.
All three companies join several others that have announced price increases, including Cooper Tire and Goodyear.