Tire Makers Raising Prices; Cite Higher Material Costs

Transport Topics, April, 2007 by Kiel, Frederick

At least five major tire manufacturers said they are raising prices on their medium- and heavy-duty truck tires by 3% to 5%, with most citing the rising cost of raw materials as the reason.

Goodyear Tire and Rubber Co., Bridgestone Firestone North American Tire Co., Continental Tire North America and Yokohama Tire Corp. all said they would raise prices OTI their commercial tires by up to 5% on May 1. Cooper Tire and Rubber Co. already raised its prices on commercial tires by up to 3% on April 1.

"Price increases on any major component like tires make it more expensive for our customers to do business, because we pass the increases along to them," Roy Wiley, spokesman for International Truck and Engine Co., told TRANSPORT TOPICS. "The cost of doing business just keeps...

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