HEADLINES
Tire Prices Reflect of Rising Material, Production Costs
Like many manufacturers, tire companies are feeling the pinch as-
sociated with ever-rising raw material costs. According to Goodyear CFO Darren Wells, natural rubber costs are up more than 130 per- cent over the last year, and butadiene, an industrial chemical used in the production of synthetic rubber, has gone up 235 percent. “In basic terms, we are encountering escalating raw material
and transportation costs that have resulted in recent price in- creases,” said Timothy Miller, Goodyear’s national fleet manager. And the outlook isn’t getting any better. During the company’s
April 28 earnings report, Wells said he was expecting a 35 per- cent increase year-over-year. With the increased material costs also comes a rise in the production costs as well, and, in the end, a jump in the cost to customers. “As the extreme raw material increases in items like natural
rubber and carbon black and oils have hit manufacturers, there has been no other avenue to digest the costs but to raise pricing to the customers,” said Aaron C. Murphy, vice president of CMA, manufacturer of Double Coin tires. “When you have small chang-
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22 School Transportation News Magazine July 2010
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