Events Calendar
In This Section
Most Read Stories
Police accuse bank robbery suspect of gobbling up note (with dashcam video)
Man found dead in North Akron home is identified
Dad accused of forcing son into field, killing him
Coventry man killed in crash at I-77 ramp
NFL star Chris Spielman's wife loses cancer battle
College student mistaken for deer, shot to death
Browns' roster nearly devoid of consistent players
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
U.S. consumers to pay up to 15 percent more as company's costs rise
By Alex Ortolani
Bloomberg News
Published on Wednesday, Jul 02, 2008
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.
Comments
Click here to post your comments
