FULLERTON, CA - For the first time in more than a year, Yokohama Tire Corporation is increasing prices on all of its consumer tires by up to 6 percent, effective Jan. 1, 2010. The increase, due to a continued rise in the cost of raw materials and transportation, includes passenger and light truck tires.
There will also be some in-line adjustments, which will be announced at a later date. Off-the-road and commercial tires will not be affected by the increase at this time. The last price increase from Yokohama was July 1, 2008.
"It was a difficult decision to raise prices, and we held off as long as we could," said Shawn Denlein, Yokohama Tire director of sales, Consumer Products. "Unfortunately, the costs of some raw materials, energy and transportation continue to escalate, leaving us no option."
Added Jim MacMaster, Yokohama executive vice president and COO: "We continually strive to keep costs down while bringing the best products to market at competitive prices. "Our operational efficiencies, environmental procedures and the latest technology help, but today's business climate makes it a challenge to contain costs."
Celebrating its 40th anniversary in the United States, Yokohama Tire Corporation is the North American manufacturing and marketing arm of Tokyo, Japan-based The Yokohama Rubber Co., Ltd., a global manufacturing and sales company of premium tires since 1917. The company services a network of more than 4,500 points of sale in the U.S.