Cooper hiking passenger, light truck tires an average of 5 percent

FINDLAY, Ohio (Oct. 30)—Cooper Tire & Rubber Co. has notified its customers that it will raise passenger and light truck tire prices an average of 5 percent effective Dec. 1. The tire maker attributed the new pricing to increases in raw material and other production costs. Kumho Tire USA Inc. and Yokohama Tire Corp. earlier this month said they will raise passenger and truck tire prices Nov. 1 by 3 to 5 percent and 4 to 6 percent, respectively. Goodyear and Michelin North America Inc. have not announced passenger and light truck tire price hikes, but both have floated some truck tire increases of 4 percent.