Goodyear Dunlop Raises Prices 5%

Goodyear Dunlop UK is today (1 December 2008) increasing the cost of its two premium tyre brands by 5.1 per cent for Goodyear and 5.7 per cent for Dunlop. According to the company the move comes as a result of the recent “accelerated devaluation of the British pound versus both the euro and US dollar.” The British pound has fallen -17 per cent and -27 per cent against the euro and US dollar respectively since Autumn 2007. Recently this devaluation has accelerated and since 1 October 2008 sterling has lost 6 per cent of its value compared with the euro and -17 per cent against the US dollar. The company representatives Tyres & Accessories spoke to wouldn’t comment on the possibility of further increases, but simply said they are closely monitoring market conditions.