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Manufacturers say tire prices will jump by 7-8% this year

Yokohama BluEarth tireYokohama Tire Corporation Wednesday announced the company will increase prices by up to 7 percent on all of its tires sold in the U.S., including commercial tires, effective April 1.

Yokohama Tire Vice President of Sales Rick Phillips says the pricing boost is driven by the high cost of raw materials and freight expenses in 2016.

Phillips added that some in-line adjustments across consumer, commercial and OTR lines will be determined within the month.

Meanwhile, Michelin North America announced it would also increases in North America for the first time since 2012. A boost of upwards of 8 percent for its commercial truck tires and others lines will be implemented separately.

Bridgestone Americas Tire Operations says it plans to adjust prices up to 8 percent across a range tires, including retread products and tubes in North America. The new pricing will take effect March 1, 2017, and will vary by business unit and product line.

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