May 16, 2008

Goodyear Will Hike Prices Next Month

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AKRON, OH – Goodyear Tire & Rubber Co. is raising prices on all of its consumer tires up to eight percent, effective on or after Jun. 1. This increase covers all of the company's brands, according to Modern Tire Dealer Magazine. Goodyear is citing "the continued escalation of raw materials, transportation and other costs" as reasons for the increase.

Earlier this month, Bridgestone Bandag Tire Solutions announced it had raised the price of its United States tread rubber products up to five percent. Similarly, both Continental Tire North America Inc. (CTNA) and Falken Tire Corp. announced price hikes.

CTNA will raise prices on its Continental, General, and proprietary brand passenger and light truck tires sold in the United States and Canada up to nine percent. U.S. prices will go up on Jul. 1. In Canada, they will go up approximately one month earlier.

Falken plans to increase prices on eight different lines, including the Ziex ZE912 60/65 (five percent) Falken Ziex ZE912 UHP (five percent, plus in-line adjustments), and others, effective Jun. 1.

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