Hankook announces price increases up to 10 percent to take effect Oct. 1

As with other tire producers, Hankook Tire America Corp. is raising prices by up to 10 percent on its full line of passenger car, light truck and medium duty truck tires. The amount of the increase will vary by product line and/or size. They will take effect Oct. 1.

“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” says Bill Bainbridge, director of brand communications.

The price increases at Hankook are consistent with price hikes announced recently by other major tire manufacturers marketing their products in the U.S., he adds.