Tire prices are risingPosted: October 12, 2009
The epicenter of sticker shock is moving from the car dealer’s showroom to the tire shop. While politicians and tire manufacturers have been battling over a 35% tariff on lower-cost Chinese-made tires that took effect last month, consumers had already been facing a run-up in tire prices that began years ago and jumped steeply even before serious talk of tariffs began. The average price of tires for passenger vehicles rose 9% in 2008 compared with a year earlier, and 24% compared with 2005, according to Modern Tire Dealer, a trade publication.
Of course, car owners can save money by replacing worn-out high-end tires with new lower-end tires. Such tires, however, are already becoming more expensive thanks to new tariffs on Chinese tires.