Continental raises tire prices 8 percent

| 5/20/2008

Continental Tire North America Inc. increased tire prices up to 8 percent on all Continental and General Tire truck tires in North America. The price increase will vary by market line and/or tire size.

“This price increase is a result of the continued escalation of transportation, energy and raw material costs that we are unable to compensate (for) with increased manufacturing efficiencies,” said Tom Fanning, director of original equipment truck tires for the Americas. He added that the increase is effective as of Aug.1.

The May 12 announcement by Continental adds the company to a growing list of tire manufacturers that have increased prices in recent months.

Prices on the Bridgestone and Firestone brand tire lines, as well as all associate brand tires, are scheduled to go up in June 1. The announced increases, up to 10 percent, on passenger and light truck, truck and bus, and agricultural and off-the-road tires, will affect the replacement, original equipment and export channels.

“The continuing record-breaking upward spiral of fuel, energy and raw material costs affects every aspect of our business – from manufacturing to distribution – and makes this action necessary,” said Asahiko “Duke” Nishiyama, vice chairman and president of Bridgestone Americas Holding, Inc.