Yokohama Tire Corporation will increase prices by up to 7 per cent on all of its tyres sold in the US, including consumer, commercial and off-the-road (OTR). The price hike becomes effective 1 April.
“This pricing action is necessitated by the high cost of raw materials and freight expenses that have impacted us in 2016 and will continue to be a factor in the business,” said Rick Phillips, Yokohama Tire vice president of sales. “As always, Yokohama will continue to bring the best product to market at competitive prices.”
Phillips added that some in-line adjustments across consumer, commercial and OTR lines will be determined within the month.