Goodyear to raise consumer tire prices in US

Akron, Ohio – Goodyear intends to raise prices on “select consumer tire lines” in the US, with most to go up by 3%, the company has announced.

The increase, which takes effect 1 Sept and covers all Goodyear brands, is “in response to rising costs,” said a Goodyear statement.

In its most recent financial report, Goodyear cited higher-than-expected increases in raw materials costs, unfavourable foreign currency swings and softening market conditions in China for lowering its second-half and fiscal 2018 earnings outlook by roughly 20%.

The Akron-based tire…

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