Pirelli, Bridgestone, Etc. Raise Tire Prices Again

Pirelli Tire North America will once again raise prices on tires for passenger car and light truck sold in the United States. Pirelli said it would raise prices by 6 percent from July, depending on the production line and tire size.

Pirelli said in a release that the price increase was "due to rising raw material prices and changing market conditions." The Italian tire maker said members of the Pirelli sales team would contact customers with more details. This is the second time Pirelli has raised prices for the US market, the last on April 15 this year.

Bridgestone's price hike in Europe

Bridgestone announced that from July 1, 2021, the price of truck and bus tires in the European market will increase. The brands that will increase the price are Bridgestone, Firestone and Dayton, but the specific increase has not been disclosed. Bridgestone tires have not only increased their tire prices in Europe, but also adjusted their prices in the American market.

Bridgestone announced an 8% price increase for OTR and agricultural tires sold in the U.S. and Canada starting June 1.

This is also the third time that Bridgestone has announced a price increase in North America this year. The first price increase is from April 1, 2021. Bridgestone USA will begin raising prices for its entire Bridgestone brand of commercial vehicle tires and bandag retread tires by as much as 8 percent.

Hankook's price hike in Europe

Recently, Hankook also issued a price increase notice for the European tire market. The price increase time is also from July 1, 2021. Unlike Bridgestone tires, Hankook tires are targeted for passenger car. The amount of increase was also not disclosed.

Recently, tire giant Michelin issued a price increase notice again, and plans to increase the price of replacement tires for cars and light trucks sold in North America (the United States and Canada) by 6% from July 1, 2021.

The price increases involve brands including Michelin, B.F. Goodrich and Uniroyal.

In addition to passenger car tires, Michelin will also raise prices for on-road and off-highway commercial tires by a whopping 13 percent.

Goodyear's price hike

Goodyear Tire & Rubber Company will raise prices of consumer tires on June 1.

Goodyear Tire said: Price hikes will affect Goodyear, Dunlop and Carrier consumer tires. Prices will rise by as much as 8%.

Continental's price hike

Continental U.S. will raise prices on some U.S. Continental and General brand tires for passenger car and light truck starting July 1.

Continental officials said the increase would vary "in specific products from brand to brand." The added details will be "available to direct customers by June 1, 2021".

The global tire market is witnessing price hike, but the price hike in Chinese tire market seems to have passed. However, in Pirelli's price increase notice, it was mentioned that the reason for the price increase was due to the increase in raw material prices and changes in the market environment, which were all external factors. I don't know whether China will be affected by this storm this time, and whether will continue the previous round of price hikes again.