[2011/2/16] Federal Tires Hiking Passenger, Light Truck Tire Prices March 1
Effective March 1st 2011, Federal Tires is raising prices on passenger car, light truck tires by up to twelve-percent with in-line adjustments for all onward orders and remaining back orders.
All customers worldwide will be included in the increase; percentage increase will vary by product lines and continents contingent upon the overall market conditions.
“In addition to previously announced price adjustments, a further price increase has become necessary to try and recover some of those costs. As a result, the increase at this time is a response to the continuing rise in raw material costs. However, Federal Tires has made every effort to minimize these increases as we committed to delivering a premium package of value to our distributors.” Henry Lin, Director of Global Sales, Federal Corporation explained.
He followed, “Our factories continue to operate at maximum capacity with improvements in productivity, flexibility, and efficiency to cope with the challenges including the high costs of raw materials and increased demand for our quality products. We shall continue to work closely with our customers to converge various perspectives to promote desirable price/.product mix while allowing us to stay in alignment with the market dynamics.”