FULLERTON, Calif. (April 13, 2004) — Yokohama Tire Corp. will increase prices across the board on its consumer, commercial and off-the-road tires, effective June 1.
The Fullerton-based tire maker said it plans to hike prices on passenger tires by 2-5 percent; 2-4 percent on commercial tire lines including light truck commercial and medium radial truck tires; and 2-3 percent on off-road tires. Additional in-line adjustments will be made, the company said, and Yokohama dealers will be provided with detailed pricing information prior to the actual increases.
Yokohama blamed escalating business expenses — including the continuing rising cost of raw materials, energy and freight cost increases and social cost adjustments — as the reason for the price hikes.
Earlier this month Goodyear announced it will raise tire prices up to 4 percent on all of its brands in various segments, effective May 1.