Michelin To Raise Commercial Tire Prices By Up To 13%
Greenville, SC – Michelin North America, Inc. announced on Monday a significant increase on commercial tires, set to go into effect this summer.
In a release, Michelin confirmed the cost on both on- and off-road commercial tires will increase “up to 13%” as of July 1.
The increase affects both the United States and Canada.
The news comes just five months after a 5% increase that went into effect on February 1, 2021, “due to changing business dynamics of the U.S. market.”
Then, on March 1, 2021, Michelin implemented yet more price increases, this time for commercial services, select commercial offers to fleet customers, select material handling products, and select wheels.
In addition to July’s commercial tire increase, the company announced prices will also increase up to 6% on select MICHELIN®, BFGOODRICH® and UNIROYAL® passenger and light truck replacement tires.
Price changes “may vary” across specific products within each brand portfolio, the company stated.
Michelin attributed the cost increases to “market dynamics.”
Dealers, fleets, commercial equipment manufactures and end-users will receive future details regarding the new pricing structure by June 1.
Michelin employs approximately 23,000 people and operates 34 production facilities in the U.S. and Canada.