Michelin, Goodyear follow Bridgestone´s price-raising lead

AKRON (Dec. 11)—Michelin North America Inc. and Goodyear have followed Bridgestone/Firestone North American Tire L.L.C.'s lead and are raising tire prices. The Michelin Americas Small Tires division today said it will boost prices by as much as 6 percent for aftermarket auto and light truck tires, effective March 1, 2002. The increase covers Michelin, Uniroyal and BFGoodrich brands. Earlier in the day, Goodyear North American Tire said it will raise tire prices 3 to 5 percent on Jan. 1. The firm will boost prices on its Goodyear, Dunlop and Kelly brand passenger and light truck tires by as much as 5 percent and on its Goodyear, Dunlop, Kelly and Steelmark brand medium truck tires by up to 3 percent.Goodyear blamed continuing increases in labor expenses and benefit costs for the decision, and Michelin gave no reason for its action. Bridgestone/Firestone on Dec. 7 said it will hike prices on various tire types by 3 percent, beginning Feb. 1.