AKRON (Sept. 25, 2002)—Goodyear is raising the price of its Goodyear-brand medium truck tires by 4 percent citing dramatic increases in raw material costs, primarily nature rubber. The price hike takes effect Oct. 15.
Natural rubber pricing has increased by 75 percent over the past year, said Ted Fick, vice president of Goodyear's commercial tire business in North America. “Our continuing goal is to reduce costs for our customers through superior products and services, but these increases in raw materials must be recovered,” he said.