Cooper considering tire price increases

FINDLAY, Ohio (Oct. 17)—Despite weakened demand in the North American replacement tire market during the third quarter and subsequent price softening, Cooper Tire & Rubber Co. is considering price increases. Those hikes could come as soon as the next couple of weeks or not until next year, Thomas Dattilo, Cooper chairman and CEO, said during an Oct. 16 earnings conference call. "We are really giving a lot of thought to the next pricing initiative," he said. Pull-ahead sales from the Bridgestone/Firestone recalls still are impacting aftermarket tire sales. Because of that, many dealers are keeping their inventories low, Dattilo said.