FULLERTON, CA - Yokohama Tire Corp. will implement a price increase on all of its light and medium commercial truck tires in the United States effective April 1, 2011. Prices will be raised an average of 8%, with in-line adjustments.
The rising cost of raw materials is the primary reason for the increases, says Rick Phillips, director of commercial sales.
"There are other factors as well, such as the costs associated with manufacturing and transportation. Though costs continue to climb, Yokohama remains committed to bringing to market the best commercial tires at competitive prices using our operational efficiencies and latest technology.”
Yokohama is the latest tire manufacturer to announce price increases this year. The list of other tire price increases thus far this are as follows:
- Double Coin and China Manufacturers Alliance LLC (CMA) hiked commercial tire prices an average of 13% on March 1. The price increases applied to the Double Coin radial truck and bus tires, all of its private brand radial truck and bus tires, and Double Coin radial off-the-road tires.
- Toyo increased prices on its commercial truck and OTR tires by an average of 8%, with in-line adjustments, on March 1.
- Michelin increased prices on its commercial products in the U.S. effective March 1. The company also raised prices an average of 12% on Michelin and BFGoodrich truck tires and Michelin Retread Technologies and Oliver retread products.
- Hankook will increase prices on its medium truck tires by a weighted average of 9%. The increases will go into effect on tire shipments made on or after March 15, 2011.
- Titan Tire Corp. will raise prices on its farm and construction tires effective April 1, 2011. The increases, up to 8%, will apply to both Titan branded products and Goodyear branded tires manufactured by Titan. Certain tire prices "may rise in excess of 8% due to realignment and positioning of the product," said the company.
- Cooper Tire raised its commercial truck tire prices 12% across the board during the week of Feb. 6, 2010.
- The Bridgestone Off Road Tire, U.S. & Canada Commercial Tire Sales division increased prices on its mining, construction and industrial tires by 12%, "with some in-line adjustments" on March 1.
- The Bridgestone Agricultural Tire, U.S. & Canada Commercial Tire Sales division announced a 4% price increase effective April 1 on the following tires: Firestone agricultural, construction and forestry tires; Bridgestone garden tires; and Regency tires sold in the United States and Canadian replacement markets.
- Michelin increased prices on Michelin brand replacement agricultural tires sold in the U.S. and Canada on March 1. The hikes were up to 8%.
- The company already increased prices on its Michelin earthmover and industrial replacement tires sold in North America up to 7% on Feb. 1. It increased prices on Oliver and MegaMile retread rubber products sold in the U.S. up to 7% on Jan. 3.
- CGS Tyres Group (7.5% to 10% on farm and industrial tires), Titan Tire Corp. (up to 8% on farm and OTR tires), Yokohama Tire Corp. (up to 5% on bias and radial OTR tires) and Continental Tire the Americas LLC (up to 8% on truck tires) raised their commercial tire prices on Jan. 1.