Hankook to Raise US Prices

(Akron/Tire Review) Hankook Tire America Corp. announced a price increase of up to 7 per cent on its full line of passenger, high performance and light truck tyres. Increases will vary by product line and size and take effect July 16.

Hankook said the increases reflect rising raw materials costs, particularly petroleum products, as well as higher transportation and general operating expenses. The tyremaker also mentioned that changes in China VAT regulations are factors in the increase.