Are Tyre Prices Increasing in 2022?

 

The supply chain including the car repair centre in Dubai continues to struggle in the wake of the COVID-19 pandemic, and logistics and raw material costs are at historic highs. In addition, inflation causes prices to rise in most businesses. In the tyre industry, manufacturers have repeatedly raised prices in response. So you look for the cheapest tyres and ask yourself, "Will they go up?". Tyre prices this year, 2022?

We've done some research for you, and here's some news that might help. Honestly not the best (well, at least for your favourite tyre brands). Since 2020 the entire commercial tyre industry has been through a lot (we're sure you have too), a global pandemic, resource shortages, supply chain issues, that family reunion you might not want to go to, you know it all!

Key Takeaways

• As of July 1, consumer prices for tyres from Goodyear Tyre & Rubber Co. increased to 12%, and in the commercial part, up to 14%. This is their second price increase from 2022.
• Falken Tyre Europe prices increased by 9% on May 1 due to material costs, allocation, and logistical concerns.
• Michelin North America Inc. Prices for passenger and light truck tyres increased by 5% to 12% and commercial on-highway and off-highway tyre prices by up to 12%, effective June 1.
• Bridgestone announced an incredible hike of 14%, effective from February 1, in its U.S. and Canadian offices.
• Yokohama faces its third price increase in less than a year.
• Pirelli Tyre North America Inc is at 10% for its car and light truck tyres.

Well, that's a lot of numbers. But here's some news that might lighten the mood, the fall season is upon us, just around the corner! Are you excited about your travel plans and road trips with your family and friends? You can get the best wheel alignment repair in Dubai with tyre experts!

Of course! Don't forget to add "Check my tyres" to your list and contact the best tyre repair shop in Dubai like us in case you feel your car needs a touch-up. You now want the best tyre deals for your travels. With this in mind, we must consider that global factors continue to drive up tyre costs. This is beyond our control.

Rising prices Oil prices, rubber demand, shipping costs, workers' wages, increasing innovation by competitors, and a doubling demand are causing many operational difficulties. This results in a low and uneven supply for tyre manufacturers to their customers.

Despite everything, we have your back! Tyre prices are not going down anytime soon and we will offer you top-notch tyre puncture repair in Dubai. The most efficient way is to invest in quality tyres before prices quadruple over time.

Take a look at brands' decisions over prices.

Bridgestone

Bridgestone Americas Inc. increased prices for Bridgestone, Firestone, and Fuzion passenger, light truck, and motorcycle tyres in the U.S. and Canada by up to 10% on July 1. This is Bridgestone's fourth price increase of 2022. The tyre maker increased prices for Bridgestone and Firestone commercial, O.T.R., and farm tyres by up to 15% in the U.S. and Canada on May 1.

Scott Damon, Chief Operating Officer of Bridgestone America, said consumers are not intimidated by price increases, at least for now. Despite price increases and inflation, they're seeing a red-hot economy still in strong demand. It's a pleasant surprise.

Continental

Continental Tyre, the Americas L.L.C., increased the prices of its Continental and General passenger and light truck tyres in the United States Market on June 1. The rise was Conti's sixth in the last 16 months.

Goodyear

Goodyear failed in U.S. prices and Canada to 10% on Goodyear and Cooper consumer tyres and up to 6% on truck tyres from July 1.

Goodyear last raised prices in North America by up to 12% for consumers and up to 14% for commercial/O.T.R. tyres for all brands on January 1, up from three times in 2021.

Darren Wells, Chief Financial Officer, cited rising commodity and other costs, which are affected by inflation, as the reason for a price hike. The changes affect all Goodyear and Cooper flagships and associated brands.

Hankook

Hankook Tyre America Inc. Up to 8% higher prices for Hankook and Laufenn passenger and light truck tyres on May 1; This is the first increase since August 2021, when the Nashville-based company raised prices for U.S. passenger and light truck tyres by up to 7% for Hankook and Laufenn brands.

Unit price increases vary by product within each brand's portfolio, Hankook said, citing several factors, including rising operating and raw material costs, increased logistics costs, and other market factors, such as the reasons for the increases.

Sumitomo

Sumitomo Rubber North America Inc. (SNRA) Increased prices in the U.S. and Canada for an undisclosed quantity of Falken brand passenger, light, and medium truck tyres on July 1. This was the third time in 2022 that SRNA raised the price of Falken brand tyres. The last time the prices were increased by up to 8%, Falken and Ohtsu brand passenger tyres in the U.S.A., Canada, and the Caribbean on March 1.

Toyo

Toyo Tyre U.S.A. Corp. raises dealer base prices for select commercial, light truck, and passenger car tyre patterns by up to 5%, effective August 1. Toyo Tyre last increased dealer base prices for passenger, light truck, and commercial vehicle tyres by up to 10% on February 1.

Yokohama

Yokohama Tyre Corp. increased prices for consumer and commercial vehicle tyres in the U.S. replacement market by an undisclosed amount on July 1. This is the company's second increase of 2022 and sixth since December 2020.
But, we have got your back! We are at your service whenever you need it. We rely on our experts who tend to cater for perfection in services like car ac repair in Dubai. Feel free to contact us to know more.