Goodyear joins Kumho, Cooper in announcing price increases

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Goodyear Tire & Rubber Co. will raise prices on its consumer, commercial, farm and OTR tires on Sept. 1.

Goodyear will raise consumer tire prices by up to 5%, commercial tire prices by 2%, farm tire prices by up to 5%, and OTR tire prices from 3% to 5%.

The price hikes cover all brands, says a Goodyear spokesman.

Goodyear officials say escalating raw material costs, higher energy rates and rising transportation costs make the increases necessary.

Goodyear is the third tire manufacturer in the last week to announce a price increase. Both Kumho Tire U.S.A. Inc. and Cooper Tire & Rubber Co. will increase tire prices effective October 1, 2004.

Kumho will increase passenger, light truck and commercial truck tire prices anywhere from 3% to 5%, depending on the tire model. Cooper said it will raise consumer tire prices up to 5%.

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