Last Updated on August 24, 2024
Unraveling the Factors Behind Rising Tire Prices
Want to buy new tires but are looking for the best tire prices? Spoiler alert! You may have to budget a bit more for your tires. So you search for tires with the best prices and wonder, “Are tire prices going up in 2022?”. Well, we researched for you, and this news could help you. Not the best, to be honest (well, for your favorite tire brands, at least)
Since 2020, the entire commercial tire industry has experienced a lot (we’re sure you have as well): a global pandemic, resource shortages, supply chain issues, that family gathering you might not want to go to—you know it all!
Not to push some buttons, but we believe this is what you should know:
Up by a 30% tire price increase since last year, global tire manufacturers giants, such as Continental, Toyo, Goodyear, Michelin, Falken, Bridgestone, Yokohama, Pirelli, and a majority of tire brands are taking the punch.
Also, count the 7% increased inflation rate for this year, a 40-year record! (We agree; we are not happy about it either.) This is the recent picture of all the best tire brands in the United States and your go-to all-terrain, all-season, and non-winter tires; the workers behind them are on the frontline.
2022 Dates Tire Manufacturers Plan Price Increases
- As of July 1, Goodyear Tire & Rubber Co. consumer tire prices rose by up to 12%, and for their commercial section, up to 14%. This is their second price increase as of 2022.
- Falken Tire Europe prices rose 9% last May 1, citing material costs, allocation, and logistic concerns.
- Michelin North America Inc. tire prices for passenger and light trucks rose between 5% and 12%, and their on- and off-road commercial tire prices increased to 12%, effective June 1.
- Bridgestone, a staggering 14%, effective last February 1 in their U.S. and Canada branches.
- Yokohama is on its third price increase in less than a year.
- Pirelli Tire North America Inc. is at 10% for their passenger and light truck tires.
Now, that’s a lot of numbers. But here’s some news that could lighten the mood: The fall season is right around the corner! Are you excited about the travel plans and road trips you will be having with your family and friends? Sure you are! Don’t forget to add “check my tires” to your list.
You want the best deals on tire prices right now for your travels. However, global factors continue to make tire costs expensive.
This is beyond our control.
Rising oil prices, rubber demand, overseas transportation costs, paying laborers, innovations from rising competitors, and doubled demand are causing a lot of operational difficulties. This results in low and uneven supply distribution for tiremakers to their customers.
Despite everything happening around you, we have your back!
Keep in mind:
Tire prices will not be going down anytime soon. The most efficient practice is to invest in quality tires before prices quadruple. Nobody wants the added expenses.
Are Tire Prices Increasing in 2022?
The world of automobiles and driving is constantly evolving. With changes in technology, materials, and global economics, it’s no surprise that prices for essential car parts, like tires, also see fluctuations. But the question on everyone’s mind as they head into the tire shop is: “Are tire prices increasing in 2022?” Let’s delve into the factors that are shaping tire prices this year.
1. Global Supply Chain Disruptions
The COVID-19 pandemic left a lasting impact on global supply chains. From rubber plantations to manufacturing hubs, disruptions have led to reduced production and increased shipping costs. As businesses continue to navigate these challenges, it’s understandable that the costs might get passed on to the consumer in the form of higher tire prices.
2. Advancements in Tire Technology
The automotive world is on the brink of a revolution, with electric cars and autonomous vehicles leading the charge. Tires, as a critical component, are not left behind. Newer tires have intelligent sensors, advanced treads, and sustainable materials. While these features offer enhanced safety and durability, they also increase production costs.
3. Environmental Concerns
The tire industry is pressured to adopt sustainable practices, with the world moving towards greener alternatives. This includes sourcing environmentally friendly materials and reducing the carbon footprint of tire production. Such initiatives, while commendable, come with their own set of expenses, impacting tire prices.
4. Increased Demand
As lockdowns lift and people opt for personal vehicles over public transport due to health concerns, there’s been a surge in demand for new tires. This heightened demand against a backdrop of reduced supply can lead to price hikes.
5. Currency Fluctuations
Global events and market dynamics can lead to fluctuations in currency values. The tire industry, being a global one, is sensitive to these changes. When significant currencies see a downturn, it can translate to increased costs for imported tires.
Saving on Tires Despite the Rise
While the above factors indicate a rise in tire prices in 2022, the situation is not all bleak for consumers. Shopping from trusted sellers like Tires Easy, comparing prices, waiting for sales, and understanding tire grades can help make a cost-effective choice.
Not you!
Tips on how to save on new tires in 2022
Pump it up!
That tire gauge you ordered did come in handy! If you haven’t, we suggest you invest in one.
Have a monthly tire safety inspection. Inspect your tire pressure, rotate them every 5000 miles or get an oil change, check tread depths, and have the right wheel alignments and adjustments.
This goes a long way! It’s best to focus on the tires you have now rather than spending hundreds and thousands on new ones (unless you need to)
Here are some tire maintenance tips for your equipment for you to read in your spare time:
- How to Check Tire Pressure
- Tire Maintenance Tips for Your Equipment
- How To Make Tires Last Longer: 5 Easy Tips
- Wear Out Tires Evenly and Save Big
Have a one-track mind!
They are driving 101! Be mindful of yourself, your loved ones, and, in this case, tire safety. Potholes, construction debris, jaywalkers, and the occasional deer, anything can happen!
Being aware of road rules and your temper makes a ton of difference. Having the right attitude on the road could be the 1% you need to make a 99% difference in making your tires last longer (your life included)
A penny saved is a penny earned!
Save for a tire maintenance fund. Look for tire dealer shops that offer a wide range of discounts. From credit card to tire financing options, look for the best deals and quality discounts for tire brands so you won’t waste money.
To help you save, Tires-Easy offers membership savings discounts and tire rebates when you create an account! Did we forget to tell you about our free shipping?
Save more with these articles:
- Wheel and Tire Financing: What Are Your Options?
- Affordable New Tire Financing Options With Affirm on Tires Easy
Knowledge is power.
Do you remember that feeling when you know you made a great purchase because you did your research?
That makes you an educated buyer! Continue to learn the ups and downs of the local tire shops near you. This will help you strategically budget to get the most out of your hard-earned cash!
Phew! We covered a ton of ground, and it’s a lot to take in. Nobody deserves unnecessary stress. Especially you!
This is why we do what we do: to ensure you get the best tires for your vehicle while we worry for you. Shopping for tires online is not your thing? Here’s a complete guide to help you out! Let’s make finding your tires easier here at Tires-Easy!
Conclusion
In 2022, tire prices have fluctuated due to various global and industry-specific factors. The landscape of tire costs is evolving from supply chain disruptions to advancements in tire technology and increased demand. As consumers navigate this market, staying informed and shopping wisely is essential.
Despite the potential rise, opportunities for value purchases remain for the discerning buyer. There’s no denying that many factors influence tire prices, some predictable and others less so.. 2022 seems to be a year of increased costs, but drivers can still find value for money with informed choices.
Ready to make an informed tire purchase? Explore Tires Easy’s vast collection and get the best deals on high-quality tires. Make the roads yours without breaking the bank.
FAQs
Why are some tires notably more expensive than others?
Several factors influence tire prices. Expensive tires often incorporate advanced technology, high-quality materials, rigorous safety testing, and specific design features catering to particular driving conditions. Additionally, brand reputation and warranty offers can elevate tire prices.
Given the fluctuating tire prices, why are many tires out of stock?
Despite varying tire prices, the out-of-stock situation for many tires can be attributed to supply chain disruptions, increased global demand, manufacturing challenges, and, sometimes, strategic releases by companies. Factors such as international events and logistical hiccups can also play a significant role in affecting tire availability.
How much does a single tire typically cost?
Tire prices for a single unit vary widely based on brand, type, size, and technological features. While some essential tires can be relatively affordable, specialty or high-performance tires can come with a steeper price tag. It’s critical to research specific tire prices within your desired category to get an accurate estimate.
How long should I expect a good-quality tire to last?
While tire prices can indicate quality, tire longevity depends on various factors. On average, a well-maintained tire should last between 25,000 and 50,000 miles. However, driving conditions, maintenance practices, tire rotations, and driving habits can significantly influence their lifespan. Investing based on tire prices is just one part of the equation; regular care ensures you get the best value for your money.
