CYPRESS, CA – Toyo Tire (U.S.A.) Corp. is the latest tiremaker to announce a May 1 price increase, up to 5 percent for consumer tires, according to Modern Tire Dealer. “Due to the rapidly increasing raw materials, energy, and transportation costs, we need to adjust our pricing accordingly,” said Steve Weinger, senior vice president of sales and marketing for Toyo, as quoted in Modern Tire Dealer.

Originally posted on Fleet Financials