An average price increase of 8% is on the way for light- and medium-truck tires produced by Yokohama Tire Corp., due to go into effect April 1. The company noted there will be price adjustments within each of those product lines as well, which will be announced at a later date.
“The rising cost of raw materials is the primary reason for the price increase,” said Rick Phillips, Yokohama director of commercial sales. “There are other factors as well, such as the costs associated with manufacturing and transportation.”
Yokohama Tire Corp. is the North American manufacturing and marketing arm of The Yokohama Rubber Co., Ltd., a global tire maker based in Tokyo, Japan.