November 12, 2009 / 6:10 PM / 8 years ago

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)

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