Months after announcing price increases, Michelin is again increasing the price of its tires in North America.
Starting June 1, the tire manufacturer said in an announcement that it will raise its prices between 5 and 12 per cent on the majority of passenger and light truck replacement tires and service offers. Motorcycle tires will increase 9 per cent. There will also be an increase of up to 12 per cent for on-road and off-road commercial products and service offers.
These increases will be across Canada and the United States.
“Price changes may vary across specific products, channels and countries within each brand portfolio,” Michelin said in its announcement.
Dealers, end-users and commercial equipment manufacturers should have received details about the increase by May 15. Additional questions can be addressed through account managers, it said.
It was in March that the company announced price increases effective April 1. Michelin attributed the increase to “market dynamics.” It did not note a reason for the latest increases in its announcement.