Global tire brands lift price

Goodyear is planning to raise prices on Goodyear- and Kelly-brand consumer tires by up to 5% on April 1.

Goodyear cited "changing market dynamics" for the need to adjust prices and said the increases "reflect the strong value" of the Goodyear brands.

Goodyear last raised prices in the U.S. six months ago when prices for Goodyear-, Dunlop- and Kelly-brand consumer tires increased by up to 5%.

Goodyear joins Michelin North America Inc. and Sumitomo Rubber North America Inc. as tire companies raising prices in the U.S.

Michelin is raising prices on selected Michelin-, BFGoodrich- and Uniroyal-brand passenger and light truck tires by up to 7% in the U.S. and 5% in Canada, effective March 16.

Sumitomo raised prices March 1 on select Falken-brand tire lines by up to 5%.