Michelin Boosting U.S. Tire Prices

Tire maker Michelin & Cie. is boosting commercial truck replacement tire prices by as much as 8% in North America, Bloomberg reported.

The company also is raising automobile and light truck replacement prices by up to 12%, due to higher costs for raw materials, energy and transportation, Bloomberg said.

The price hikes will take effect Sept. 1, Michelin said in a statement.