CYPRESS, Calif. (Sept. 26, 2006) — Toyo Tire (U.S.A.) Corp. will raise prices up to 5 percent on its passenger, light truck and medium truck tires and up to 7 percent on its off-the-road tires, effective Oct. 1.
“Due to the rapidly increasing costs of raw materials, energy and transportation worldwide, Toyo Tires has to adjust our pricing accordingly,” said Steve Weinger, senior vice president of sales and marketing.
This is Toyo's third price increase this year. It raised prices for commercial truck and bus tires 5 percent and 7 percent on off-the-road tires on April 1. It also raised prices on passenger and light truck tires 8 percent on Jan. 1.