Last Updated on April 21, 2024
Tire Price Hikes: What’s Rolling into Your Budget?
If you are considering new tires, you may want to buy them sooner rather than later!
Nearly every major tire manufacturer has announced tire price increases for spring, and the others are sure to follow.
Increases in raw material costs will push tire prices between 5 and 10% higher. This could mean an extra $100 or more on premium tires for the typical car, SUV, or light truck. This is an excellent incentive to start researching and planning your tire purchase now. Tire price increases will be seen across the tire industry at online retailers and brick-and-mortar locations.
Understanding the Surge: Why Tire Prices Are on the Rise
Tire price hikes have recently become a common headline in the automotive industry. Major tire manufacturers have been announcing significant increases in the prices of their tires, leaving consumers wondering why this is happening and what it means for them.
This article will explore the reasons behind these price increases, factors determining tire prices, and whether we can expect tires to get even more expensive. We will also delve into the average cost of a single tire to give you a better understanding of the current market. So, if you’re curious about the rising costs of tires and how they might impact your wallet, read on to get the answers you need.
Tire Price Increases on All Types of Tires
Most major manufacturers have announced tire price increases will go into effect in early 2017 on all different types of tires and brands. Very soon, you can expect to pay more for your favourite car brand, truck, SUV tires, off-road tires, trailer tires, and ATV tires for commercial trucks and farming equipment. There has been a sharp increase in all the key raw materials that make up a tire. These include steel wire, synthetic rubber, and natural rubber.
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While manufacturers can absorb some of the increase in raw materials, the increase was too large and widespread this time. They had to pass on most of the costs to the tire retailers and, ultimately, the tire buyers.
How Much Will Each Brand Increase?
All major manufacturers of the better-known tire brands have announced tire price increases. However, the amount of the tire price increases will vary by brand, product style, and size. The list of brands advertising tire price increases includes:
| BFGoodrich | Bridgestone | Continental | Cooper | Dunlop |
| Falken | Firestone | Goodyear | Hankook | Kelly |
| Kumho | Galaxy | Michelin | Ohtsu | Pirelli |
| Sailun | Sumitomo | Toyo | Uniroyal | Yokohama |
Titan announced an increase on all of their farm tires. Very few of these brands will apply the same percentage increase to all the sizes in the hundreds of different tire styles. On average, you can expect a minimum of a 5% increase on all tires. If your tire style and size are at the high end of the announced range, you might see as much as a 12% increase. Buying now will save you the cost of these tire price increases!
Act Now and Save Money
Most of us want to eke out as much mileage and tread life as possible on our old tires, especially since spring is the traditional time for changing tires. Ironically, late winter is the worst time of year to be driving on old tires. The cold weather means slippery roads and the pending thaw means frequently flooded roads in many parts of the country. New tires reduce the chance of hydroplaning and improve your traction because the tread is deeper.
If you live in a winter climate and can change your tires now, consider the new Nokian WRG4 tire. This is an all-weather tire, not an all-season tire. With an all-weather tire, you get more snow and ice grip than a traditional all-season tire, so you can leave them on all year round, even if you live in an area with harsh winter weather. With the Nokian WRG4 tire, you get the immediate benefit of winter tire levels of snow and ice traction during these last few weeks of winter and a long-lasting tire that you will not have to change out next fall.
Tire Easy for Great Prices on a Huge Assortment of Tires
If you find yourself needing new tires and want to buy them in advance of the price increase, check out Tires Easy. With the largest selection of new tires online, Tires-easy.com offers hundreds of tire brands, a wide range of prices, easy ordering, and fast shipping. Call (855) 978-6789 or visit Tires Easy today.
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