AKRON (Nov. 1)—Goodyear is raising prices 4 to 5 percent on all consumer tires—passenger and light truck—beginning Dec. 1. The price hikes cover Goodyear, Dunlop, Kelly and all associate brands. Goodyear cites rising raw material prices as the reason for the change. Officials told financial analysts earlier in the week the company anticipates 5- to 7-percent higher raw materials costs in the coming months. At the same time, though, Goodyear President Bob Keegan told analysts in an Oct. 31 conference call that Goodyear wants to "sell more tires profitably by increasing productivity within our existing dealer channels. We've taken a fresh look at where our products compete," he said, "and we have 'right-priced' our products for the (appropriate) market segment. That may mean higher prices on some products, and lower prices on others. We will be competitively positioned."
Goodyear raising consumer tire prices 4-5 percent
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