Hankook US Prices Rising up to 10%

As of October 1, prices for Hankook Tire products in the US will increase by up to 10 per cent. The new price structure will apply to the company’s full range of passenger car, light commercial and truck tyres.

“While our company continues to make every effort to control manufacturing and distribution costs without compromising service to our customers, the unprecedented increases in the costs of raw materials and energy make this announcement necessary,” stated Bill Bainbridge, Hankook’s director of brand communications. He added that the company’s price increases are consistent with price rises announced recently by other major tyre manufacturers marketing their products in the US.