Tire prices are going up

Arnel_The_Tireguy · 07-05-2007, 01:10 AM

http://www.driversdrive.com/tires/

Tire Prices Also Climbing

Things are not going drivers way this year. Gas prices have soared past the $3 gallon mark. Now there is news that tire prices are rising as well primarily because oil is used to manufacture tires. The Associated Press reports that four major tire makers have announced recent price increases -- some prices are going up by as much as 8%.

Four major tire makers have announced price increases for this fall, following similar announcements by most manufacturers earlier this year. Goodyear Tire & Rubber Co. has announced three price hikes this year alone as oil nears $70 a barrel, and with prices for steel and natural rubber also rising.

The latest Goodyear hike, a 5 percent to 8 percent increase depending on the tire model, took effect Thursday. So a tire going for $100 could potentially go for $108. The Ohio-based company also increased prices in February and June.

Despite the price increase it is important to remember to buy high quality tires that can protect you on the road. Saul Ludwig told the AP that people don't spend more on sneakers than tires.

Raw materials typically are 40 percent of the selling price of tire, so percentage increases in the mid-single digits are in line with what companies have to charge to cover costs, said Saul Ludwig, who tracks the industry at KeyBanc Capital Markets in Cleveland.

"In my judgment, the average consumer doesn't appreciate the value in the product," Ludwig said. "More often they'll spend more for a pair of tennis shoes than for a tire that travels 70 mph, hits potholes and protects their life."

ehhhwik · 07-05-2007, 01:17 AM

yea, i realized that General UHP tires' price went up a couple bucks too, but that happened like a couple months ago

wuufer001 · 07-05-2007, 02:58 AM

kinda off-topic but maybe wanna give the heads up. i bought 2 255/35/18 bfgoodrich g-froce kdw2. went to the first discount tire and quoted me $520 for tires plus mount and balance, left the place and went to another discount tire and talked a bit and they dropped it to $430. $90 difference with a little bit talk. thats crazy shit if you ask me.

07-05-2007, 01:10 AM	#1
Arnel_The_Tireguy Custom Wheel and Tire Specialist 1 Rep 41 Posts Drives: 2007 BMW 335i Join Date: Jun 2007 Location: Carson 310 324-2569 iTrader: (0)	Tire prices are going up http://www.driversdrive.com/tires/ Tire Prices Also Climbing Things are not going drivers way this year. Gas prices have soared past the $3 gallon mark. Now there is news that tire prices are rising as well primarily because oil is used to manufacture tires. The Associated Press reports that four major tire makers have announced recent price increases -- some prices are going up by as much as 8%. Four major tire makers have announced price increases for this fall, following similar announcements by most manufacturers earlier this year. Goodyear Tire & Rubber Co. has announced three price hikes this year alone as oil nears $70 a barrel, and with prices for steel and natural rubber also rising. The latest Goodyear hike, a 5 percent to 8 percent increase depending on the tire model, took effect Thursday. So a tire going for $100 could potentially go for $108. The Ohio-based company also increased prices in February and June. Despite the price increase it is important to remember to buy high quality tires that can protect you on the road. Saul Ludwig told the AP that people don't spend more on sneakers than tires. Raw materials typically are 40 percent of the selling price of tire, so percentage increases in the mid-single digits are in line with what companies have to charge to cover costs, said Saul Ludwig, who tracks the industry at KeyBanc Capital Markets in Cleveland. "In my judgment, the average consumer doesn't appreciate the value in the product," Ludwig said. "More often they'll spend more for a pair of tennis shoes than for a tire that travels 70 mph, hits potholes and protects their life." __________________ 2007 BMW 335i Coupe 19x8 , 19 x9.5 TSW Nurburgring w/ Bridgestone RFT from America's Tire Company. tires.com
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07-05-2007, 01:17 AM	#2
ehhhwik Brigadier General 114 Rep 3,431 Posts Drives: 09' BMW 335d, 07' BMW E92 328i Join Date: Oct 2006 Location: Vancouver, BC iTrader: (5)	yea, i realized that General UHP tires' price went up a couple bucks too, but that happened like a couple months ago __________________ Current: 09' E90 335d - Titanium Silver/Black Leatherette/Sports Package/6AT Paddle Shift/USB Integration/19" Staggered Breyton GT Gloss Black Retired: 07' E92 328i (Jet Black)
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07-05-2007, 02:58 AM	#3
wuufer001 Colonel 377 Rep 2,348 Posts Drives: 2006 E90 M/T Join Date: Mar 2006 Location: DFW, TX//Taiwan//South Africa iTrader: (5) Garage List 2006 325i [9.34]	kinda off-topic but maybe wanna give the heads up. i bought 2 255/35/18 bfgoodrich g-froce kdw2. went to the first discount tire and quoted me $520 for tires plus mount and balance, left the place and went to another discount tire and talked a bit and they dropped it to $430. $90 difference with a little bit talk. thats crazy shit if you ask me. __________________
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