FULLERTON, Calif. (Sept. 5, 2003) — Yokohama Tire Corp. will raise its prices up to 5 percent on passenger, high performance and light truck tires, effective Oct. 1.
The Fullerton-based tire maker said the increases are the results of rising raw materials costs as well as expenses related to compliance requirements for the Transportation Recall Enhancement, Accountability and Documentation (TREAD) Act.
Pirelli Tire North America Inc. and Bridgestone/Firestone both set price increases of up to 4 percent, effective Oct. 1. Goodyear also announced a price hike of up to 4 percent effective Sept. 1. All three of these tire makers said raw materials prices were a major cause, and Bridgestone said escalating costs of utilities also were a factor.