Container Top
Homes   Jobs   Cars   Shopping
Search

Events Calendar

EVENT SEARCH:

In This Section


Most Read Stories


Blogs:


Pets:
Cat-loving chihuahua suckles seven abandoned kittens

The Heldenfiles:
Friday Night Notebook

Patrick McManamon:
For your Saturday entertainment …

Akron Zips:
Hitchens leads Zips in second-half comeback

Tribe Matters:
Seven players added to Tribe’s 40-man roster

Cleveland Browns:
Holmgren expresses interest in Browns position

Kent State Sports:
Kent State blown out in second half, loses to Temple 47-13

Cleveland Cavaliers:
Gameblog: Cavs vs. Philadelphia 76ers

Buckeye Blogging:
OSU – Michigan college football rivals meet in Baghdad

Varsity Letters:
Four area football teams play tonight

All Da King's Men:
Blog of Mass Destruction:
Will Health Care Reform Pass?

Akron Law Café:
Health Care Financing Reform: (68) Democrats Secure 60 Votes for Cloture

See Jane Style:
Vintage Chic

Car Chase:
TIME TO GET YOUR COLLECTOR CARS WINTERIZED

Let's Talk Real Estate:
Silverdome Potentially SOLD!

Ohio Travels with Betty:
George is looking for a Thanksgiving buffet in Akron.

Sound Check:
Steely Dan Plays "The Royal Scam" at E.J. Thomas Hall

HRLite House:
Colloquium at University of Akron

Akron Gamer:
Nintendo's Mario endures even as games come and go

Michelin increases tire prices

U.S. consumers to pay up to 15 percent more as company's costs rise

By Alex Ortolani
Bloomberg News

Michelin & Cie., the world's second-largest tire maker, is raising U.S. prices as much as 12 percent on replacement tires for cars and light trucks because of higher costs for raw materials, energy and transportation.

Prices also will increase up to 8 percent for commercial-truck replacement tires, the French company's North American unit said in a statement. The revisions take effect Sept. 1, Michelin said.

The announcement comes less than two months after Chief Financial Officer Jean-Dominique Senard said at the annual shareholders meeting that Michelin would increase prices ''when we judge it opportune.'' In those May 16 remarks, he blamed a ''very severe'' rise in raw-material costs.

Rubber prices in Tokyo have climbed 13 percent this year, driven by expectations that demand for tires will outpace supply of the material, as well as a 46 percent jump in oil prices that makes the synthetic alternative more expensive.

Michelin also said it will boost prices as much as 15 percent for motorcycle, scooter and bicycle tires sold in the U.S., Canada and Mexico.

The company said Monday that prices for aircraft tires would increase up to 9 percent.

On June 10, it said it would raise prices for truck and bus tires in Asia as much as 12 percent starting this month.

Michelin is the parent company of B.F. Goodrich and Uniroyal operations in North America.

Michelin & Cie., the world's second-largest tire maker, is raising U.S. prices as much as 12 percent on replacement tires for cars and light trucks because of higher costs for raw materials, energy and transportation.

Get the full article here.


Story tools

Email  Email   Print  Print   Save  Save   Reprint  Reprint   Popular  Most Popular   Reprint  Subscribe

Share this story

AddThis Social Bookmark Button
















Most Commented Stories