FULLERTON, CA - Due to continued increases in the cost of raw materials and energy-related expenses, Yokohama Tire Corporation announced it will increase prices on its light and medium commercial truck tires by up to 7 percent, effective March 1. The last commercial truck tire price increase from Yokohama was Sept. 1, 2008.
There will be in-line adjustments, as well, which will be announced at a later date. Off-the-road (OTR), light-truck and consumer tires will not be affected by the increase.
"We've been doing our best to contain our costs, but the continued escalation in the costs of raw materials, energy and transportation must be reflected in Yokohama's pricing, unfortunately," said John Cooney, Yokohama director of sales, Commercial Division.
"Today's challenging business climate makes it difficult to suppress costs," added Jim MacMaster, Yokohama executive vice president and COO.