Cooper Tire announces price increase
Cooper Tire & Rubber Co. will raise prices on all its major, associate and private brand consumer tires effective June 1, 2004.
The price increase will vary between product lines, some of which will experience an increase as high as 5%. A company spokesperson said rising raw material costs necessitated the increases.
Cooper is the fourth tire manufacturer within the last two weeks to announce a price increase. Continental Tire North America Inc. and Yokohama Tire Corp. also are raising prices effective June 1.
Continental's increase covers its Continental, General, Semperit and private brand tires. Passenger and light truck tires will go up anywhere from 3% to 5%, while truck and OTR tires will be raised from 2% to 5%.
Yokohama said it will increase prices "across the board" on its consumer, commercial and OTR tires as follows:
* 2% to 5% on consumer tires;
* 2% to 4% on commercial tire lines, which include light truck commercial and medium radial truck tires;
* 2% to 3% on OTR tires.
Goodyear Tire & Rubber Co. announced it was raising its tire prices at least 2% on all tires beginning May 1.