Cooper plans 2.5% consumer tire price increase
Cooper Tire & Rubber Co. is raising prices 2.5% on its passenger and light truck tires. The increase will go into effect Feb. 1.
As has been the case in the past, backorders will not be protected.
The reason is the "unprecedented levels of inflation in raw material costs," according to the company.
Cooper last raised consumer tire prices on Nov. 1, 2010, when increases up to 6.5% went into effect. The company also raised prices up to 7.5% on June 1, 2010.
As previously announced, Michelin North America Inc. also will raise consumer tire prices on Feb. 1. The price hikes "will vary by product line."