Goodyear to Raise Prices 4% to 5%
From Reuters
Goodyear Tire & Rubber Co., North America’s largest tire maker, said it would raise the retail tire prices by 4% to 5% on Dec. 1 because of higher prices for raw materials.
The Akron, Ohio-based company said the increase would apply to all Goodyear, Dunlop and Kelly brand replacement tires.
The announcement comes amid similar price increases by competitors Michelin and Cooper Tire & Rubber Co.
Shares of Goodyear fell 29 cents, or 4%, to $6.81 on the NYSE.
