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Manufacturers Increase Tire Prices 4 to 5%

August 16, 2006

Rising oil prices have prompted Nashville-based Bridgestone/Firestone to increase tire prices by as much as 4 percent starting Sept. 1, according to the Tennessean newspaper. The increases apply to the company’s Bridgestone, Firestone, Fuzion, Dayton, and private-label tire brands. It affects tires for cars, trucks, buses, off-road vehicles, and agricultural equipment. The price increases are a result of the rising cost of petroleum, according to the report.Goodyear Tire & Rubber Co. has raised prices on its medium truck tire lines by as much as 5 percent, according to Tire Review. In addition, Goodyear also hiked prices on its retread products sold in North America by up to 5 percent as of July 1. The increase, due to raw material, energy, and transportation costs, covers the company’s Goodyear, Dunlop, and Kelly-Springfield brands.Yokohama Tire Corp. announced Friday that because of the rising cost of raw materials, it will increase prices on all products beginning October 1. Consumer tires, medium radial truck and bus tires and commercial light truck tires may cost up to 7 percent more, the company reported.
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