More price increases from Michelin

Prices of Michelin tires will go up for the third time in less than a year.

The company announced the latest round of increases will take effect Jan. 1, 2023, in Canada and the U.S.

Select passenger and light truck, on-road and mining commercial products and service offers will see spikes of up to 9 per cent.

It didn’t specify which lines would see specific increases, other than to say, “Price changes may vary across specific products, channels and countries within each brand portfolio.”

Michelin increased prices back in June by between 5 and 12 per cent for passenger and light truck replacement tires and service offers. It further increased motorcycle tire prices by 9 per cent. It again didn’t specify a reason.

But during its price increase announcement for April last year, the company cited “market dynamics” for its 5 per cent change. It also increased motorcycle prices by 9 per cent at that time.