U.S. tire market "up" sound

Goodyear Tire & Rubber Co., the nation's largest tire maker, said recently that the company plans to increase its tire replacement price for passenger cars and light trucks in the North American market by 8%. This is the second time in the past two months that the company has announced to increase tire product prices. The price increase is still attributed to rising raw material prices.

Previously, Goodyear had announced that since May 1, 2011, the company’s selling prices for all branded tires in the US and Canadian markets will have increased by 6% on an original basis.

In the U.S. market, in response to rising raw material prices, not only did Goodyear raise prices, almost all tire suppliers responded by raising prices.

Michelin North America said that the company will increase its North American passenger car and light truck replacement tire prices from May 1. Previously, the company had announced that from February 1, 2011, the company will increase its tire prices based on different product types.

On March 15, 2011, Cooper Tires announced that the company will increase the price of its light automotive tires according to the type of product, with an average increase in tire prices of 8%-9%. Continental Tire Company stated that since May 1, 2011, the sales price of mainland company replacement tires in the U.S. market will increase by 6% on an original basis.

In addition, Bridgestone Americas Tire Operations also announced that the company will increase the price of replacement tires and associated tires on May 1, 2011. It is reported that Bridgestone’s tire prices for passenger cars and light trucks have risen by up to 8% in the United States and Canada.