57 per cent of garages are planning on increasing their prices according to a survey conducted by WhoCanFixMyCar. The survey, which was sent to WhoCanFixMyCar’s network of over 15,000 top-rated garages, mobile mechanics and dealerships, asked businesses whether they would be raising their prices soon, and if so, what had influenced that decision.
As a result of continued high raw material prices and “dramatically” rising freight costs in 2022, Yokohama Off-Highway Tires (YOHT) is increasing prices for its products from 1 April 2022. Announcing the upcoming changes, YOHT states that although it has absorbed “the majority of the costs” incurred upstream and during transportation and has thus implemented price increases that are “lower than industry average,” it is “unavoidable to pass a minor portion to its business partners.”
Falken Tyre Europe will increase the prices of its entire product portfolio by nine per cent on 1 May 2022. Falken states the increase reflects global rises in costs for raw materials, energy, and logistics. This price rise does not affect UK Falken customers, where the brand is distributed exclusively by Micheldever Tyre Services. Like Falken, MTS is owned by Sumitomo Rubber Industries. A Falken spokesperson told Tyrepress that MTS would inform its customers of any price rise affecting the UK.
Prices for Trelleborg Wheel Systems (TWS) products will increase by up to ten percent as of January 2022. Trelleborg says the price rises apply to all TWS brands and products and is a consequence of the escalating energy, logistics and raw materials costs in all markets.
Toyo Tire U.S.A. Corp. will increase the dealer base prices on passenger car, light truck and commercial truck tyre patterns by up to 10 per cent. According to the company, the price increase is a result of continued increases in raw materials and logistics costs.
Marangoni announced an imminent price increase in mid-November for all products offered across the (Europe, Middle East and Africa (EMEA) region. However, at the beginning of December, the company offered further details. Regarding the specific amount of the upward adjustment “based on the product families and the respective product lines” specifical details are set to be released “in the next few days”.
Nexen Tire is raising prices across its entire product range, effective 1 February 2022. According to the company, “rising raw material prices as well as freight and logistics costs” are behind the price hike. No details of the percentage increase have yet been released.
Birla Carbon, one of the leading manufacturers of carbon black, has announced a global price increase for all its Specialty Blacks products. These increases take effect 1 December 2021; all shipments made on or after this date are subject to the price increase.
Trelleborg Wheel Systems has announced price increases up to five per cent on all brands and segments. The increase will take effect in November and the company stresses that this is the last price rise for the current year. The tyre maker says it is adjusting prices in light of “continuous increases along the entire value chain in all markets.”
As if the Covid-related troubles combined with complex shipping challenges and rising raw material costs weren’t enough, Chinese government policy is now adding to the pressure on tyre manufacturers making tyres for export from the People’s Republic. Specifically, the Chinese central government environmental policy has led to power rationing across the country since mid-September, which has had a marked impact on manufacturing business including the tyre industry. Indeed, more than 20 tyre manufacturers have experienced power-rationing-related temporary shutdowns and/or have implemented price increases because of these product headwinds. And these are having a marked impact on tyre production.
For the fourth time this year, Yokohama Off-Highway Tires (YOHT) is increasing prices for its products. In announcing the new pricing that will be applied from 1 December, YOHT stresses it has sought to keep the increases in 2021 “lower than the industry average” by itself absorbing “the major part” of the “dramatically rising cost for raw materials and freight” rather than pass these additional costs on to customers.
Chemical and material manufacturer DuPont Mobility & Materials, which supplies tyremakers around the world, has announced sweeping prices increases globally. The price increases take effect from 1 October 2021 “or as soon as contracts allow”.
Mitas has announced price increases up to 5 per cent across all its tyre product segments. According to the company, this third price increase is driven by “escalating logistics and raw materials costs in all markets”. The latest price increase takes effect from September 2021 onwards.
The price of certain aftermarket Michelin, BFGoodrich and Uniroyal passenger and light truck tyres will rise by up to eight per cent in the USA and Canada from 1 September. Prices for on- and off-road commercial tyres will increase by as much as 14 per cent, while prices for motorcycle tyres will be up to four per cent higher from the start of next month.