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Cooper gets ready to hike prices again

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Cooper Tire & Rubber Co. will raise consumer tire prices in North America as much as 6.5% effective Nov. 1, 2010.

The company says the increase -- its second in five months -- is necessary to recoup higher raw material costs. Cooper last increased passenger and light truck tire prices up to 7.5% on June 1.

Cooper is the second tire manufacturer to announce an upcoming price increase. Goodyear Tire & Rubber Co. will raise its consumer tire prices up to 6% on Oct. 1, also in response to escalating raw material costs.

For a look at the participants in the previous round of price increases, click "Tire price increases: updating them all."

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