Titan to Implement OEM Price Increase
Titan Tire Corporation has announced plans to implement a price increase for tyres and assemblies supplied to original equipment manufacturers, effective July 1, 2008. The increase will range from 7 per cent to 37 per cent, depending on the tyre, to offset rising costs for natural rubber, bead wire and oil-based material such as synthetic rubber and carbon black. Overall synthetic rubber shortages have also contributed to rising raw material costs, reports Titan.
These OE price increases follow those implemented for the aftermarket, which took effect June 1. Prices for aftermarket Titan, Goodyear and General branded OTR, farm and construction tyres increase between 4 per cent and 34 per cent.