CTTAY - Tire manufacturers inflate prices as inflationary pressures take a toll

Major tire-makers are pumping up prices as material costs and supply chain problems impact the industry. The Japanese conglomerate Bridgestone (OTCPK:BRDCY) is beefing up its prices on all Bandag on all Bandag tread rubber and cushion across North America by 17% starting Monday. The latest increase is the latest in a series of hikes from the manufacturer after implementing four such increases in 2021. Compagnie Générale des Établissements Michelin (OTCPK:MGDDF), better known as simply Michelin, is also rewriting its prix fixe menu to contend with macro pressures.  The company indicated that a 5%-12% increase on most passenger and light truck replacement tires, a 9% increase on motorcycle tires, and a 12% increase for on-road and off-road goods and services will be implemented starting June 1.  The price hike for the French tire manufacturer is the second in just over a month. On April 1, the company enacted a 5% jump

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Tire manufacturers inflate prices as inflationary pressures take a toll