Tire Supply Continues to Drop As Prices Increase

Chris Petescia
Tire Supply Continues to Drop As Prices Increase
 
September 21, 2021
As the supply of natural rubber decreases and demand increases, tire manufacturers are announcing price increases.
Goodyear, Bridgestone, Continental,
Michelin, and Yokohama have already increased prices
Yokohama cited an “unprecedented increase in the cost of raw materials...”
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WHY IS RUBBER SUPPLY GETTING HARDER TO FIND?
  • Rubber producers were unable to use migrant workers to tap the rubber trees because of travel restrictions between nations
  • Rubber trees take 7 years to mature
  • Leaf disease and flooding has affected the rubber trees
  • Lack of shipping containers
  • Higher demand from China, as they bounce back from COVID sooner than other countries
"We can't say it's a shortage, but in certain sizes and
styles, you're not going to be able to get them."

Kevin Rohlwing, SVP Tire Industry Association
Retreading Tires is cost effective, savings hundreds of dollars vs new tires, and keeps up to 15 million tires out of North American landfills every year.
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