Yokohama Off-Highway Tires EMEA raises prices
Yokohama Off-Highway Tires Europe Middle East and Africa (YOHT EMEA) has announced across-the-board price increases of 4.5 to 5.5 per cent. An official statement specified that the first price increase of 4.5 to 5.5 per cent was implemented on 1 Jan 2021. The new pricing will apply to the entire portfolio of Yokohama Off-Highway Tires EMEA (including the Alliance and Galaxy brands) and will take effect from 1 April 2021.
The announcement comes in light of “global commodity and freight market” pressures leading to “major effects for Yokohama Off-Highway Tires in terms of availability of, and cost for raw materials and shipment”. For example, prices for natural rubber, synthetic rubber and chemicals have seen “a severe increase”, according to Yokohama OHT. The same is true for ocean freight cost. Despite these very challenging conditions, customers will only face “a fairly moderate increase of tyre prices”, meaning Yokohama OHT has absorbed much of the difference.
“The rising cost of some major raw materials is becoming more and more of a challenge, and prices are going through the roof”, said Angelo Noronha, president EMEA at Yokohama Off-Highway Tires, adding: “In sum, this makes for strong effects, most of which will be absorbed by YOHT EMEA and hence will keep consequences for our customers to the minimum. However, a 4.5 to 5.5 per cent increase of prices will be inevitable.”
Yokohama Off-Highway Tires (YOHT) specialises in the design, development, manufacturing and marketing of Agriculture, Forestry, Construction, Industrial, Earthmoving, Mining and Port and other commercial tyres. YOHT owns the Alliance, Galaxy and Primex tyre brands and is present in over 120 countries.