Michelin to Raise Truck & Agri Tyre Prices in US

Michelin North America has announced price increases for some of its tyre product lines. Commercial truck tyre prices will increase by up to six per cent on Michelin and BFGoodrich brand replacement tyres and up to four per cent on MRT retreads sold in the United States, effective January 1, 2008. Agricultural and Compact Line tyre prices will be raised by up to seven per cent on products sold in the United States, also effective as of January 1, 2008.

The manufacturer also reports that tyre volumes recovered during the month of October. Passenger tyre volumes in replacement markets were stable in both Europe and North America, however replacement truck tyre sales increased significantly – 6 per cent in Europe and 10 per cent in North America. Deutsche Bank comments that it believes Michelin to be on tract for a 3 per cent growth in volume during the fourth quarter, a period that was very weak last year.