Truck owners will pay an average of 8% more for a light- or medium-duty commercial truck tire from Yokohama Tire Corp. after July 1. The company, citing the rising cost of raw materials, announced the price change yesterday.
“Other factors also influenced the increase, such as the costs associated with manufacturing and transportation, which continue to escalate,” said Rick Phillips, director of commercial sales.
This is the second 8% price increase from the company this year. On April 1, light- and medium-duty tires saw an 8% increase, also due to rising costs, the company said.
Yokohama also pointed out that there will be “in-line adjustments” as well, to be announced at a later date.