FINDLAY, Ohio (July 27, 2004) — Cooper Tire & Rubber Co. is increasing prices on tires up to 5 percent, effective Oct. 1.
Pat Brown, vice president, global branding and communications, said the increase will vary by product line though it applies to all customers.
The Findlay-based tire maker had said July 22 when it released second quarter results that it would likely have to raise tire prices to keep pace with rising raw material prices. Cooper raised prices up to 5 percent on June 1 and by 2-4 percent last Aug. 1. The tire maker said it anticipates it will pay $20 million to $25 million more this year for raw materials than a year ago.