Continental Tire North America, Inc. (CTNA) has announced it will increase prices up to 8% on all Continental and General Tire brand original equipment truck tires in North America. The price increases are effective as of August 1, 2008 and will vary by market line and/or tire size, the company said.
“This price increase is a result of the continued escalation of transportation, energy and raw material costs that we are unable to compensate with increased manufacturing efficiencies,” said Tom Fanning, director of original equipment truck tires for the Americas.
Continental is not the first tiremaker to increase prices due to commodities costs. Earlier this month, Bridgestone Bandag Tire Solutions (BBTS), a division of Bridgestone Firestone North American Tire, announced it had increased prices up to 5% in the U.S.