FULLERTON, Calif. (Aug. 11, 2006) – Due to the continued record escalation of raw material costs, petroleum related material costs and energy costs, Yokohama Tire Corp. said it will boost prices on all its products, effective Oct. 1.
"Thanks to improvements in operational efficiency that has partially offset higher materials costs," the Fullerton-based tire maker said, the increases will be only up to 7 percent on consumer tires, up to 7 percent on medium radial truck and bus and commercial light truck tires, and up to 8 percent on off-the-road radial and bias tires. The price hikes will include Yokohama-brand tires as well as the company´s associate and private labels.
Specific details, including in-line adjustments, will be announced at a later date, the company added.
"Yokohama is committed to delivering the best products at competitive prices", said Jim MacMaster, Yokohama executive vice president, business division. "We will use our technology and ongoing improvements in manufacturing and operational efficiency to meet our customer needs."