Many tire OEMs have increased prices in CY-2021, ranging from 3-10% depending on type of tire and size. Higher commodity prices and increased ocean freight rates are being passed on to end users as OE profit margins compress.
Preventative Maintenance Costs Increase 3-5% in 2021
Many factors converged to exert upward pressure on PM costs, such as longer vehicle service lives due to limited product availability; the ongoing transition to synthetic oils; and higher labor rates to attract scarce technicians.
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