Higher Commodity Prices Put Upward Pressure on Tire Costs
Replacement tire prices remain stable, but they are starting to experience upward pricing pressures due to higher prices for the commodities used to manufacture tires.
“Replacement tires is one of the top fleet expense categories. In our fleet, replacement tire costs were generally the fourth- highest operating cost for all segments. Compared to 2016, overall tire costs increased within all segments, which is attributed to pricing increases by many of the major manufacturers,” said George Albright, Assistant Director of Maintenance for Merchants Fleet.
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