By Denna Bowman
Kumho is raising its tyres prices in the US as a result of market pressures created by the recent increased tariff on Chinese consumer tyre imports.
The tyres company will increase prices up to 12% on selected products, according to a report in Modern Tyre Dealer magazine.
The effective dates of the increases will be as follows:
* Sept. 26, 2009, for limited patterns; and
* Oct. 1, 2009 for the remainder of the products.
“It is Kumho’s goal to minimize the impact of this imposed tariff on our customers and ultimately the consumer,” says CEO and President J.B. Kim.
“We will make every effort to maintain a consistent supply of Kumho products that deliver unparalleled value and performance to the important U.S. market.”
Cooper Tyre and Rubber is the only other manufacturer to announce a price increase following the decision by President Barack Obama to raise tariffs on Chinese-made passenger and light truck tyre imports.
The company has not announced when its increases — also up to 12% depending on the line — will go into effect.