Goodyear raising N.America tire prices up to 6 pct
* Raising prices on all retail tire sales in N. America
* Increases take effect Dec. 1
* Goodyear shares up 3.8 percent
DETROIT, Nov 12 (Reuters) - Goodyear Tire & Rubber Co GT.N will raise prices on consumer replacement tires in North America by up to 6 percent to recover higher raw materials costs, the company said on Thursday.
Goodyear, which has forecast a fourth-quarter operating loss for its key North American Tire unit, said the price increases would take effect Dec. 1.
The increases cover all consumer tire brands and will be Goodyear's first in about a year, company spokesman Jim Davis said. He declined to specify which raw materials costs drove the decision to raise prices. There were also other unspecified costs that contributed to the price increase.
Goodyear shares were up 52 cents, or 3.8 percent, at $14.05 in afternoon trading on the New York Stock Exchange. (Reporting by David Bailey; editing by John Wallace)
- Gaza rockets land deep in Israel as it bombards Palestinian enclave |
- Anger mounts as Germany unearths second U.S. spy suspect
- Both candidates in Indonesia election claim victory; Jokowi ahead in more counts |
- Argentina, Netherlands set for battle, Brazil wonders what happened
- Former New Orleans Mayor Nagin gets 10 years in corruption case