FULLERTON, Calif. (June 15, 2012) — Yokohama Tire Corp. (YTC) will raise prices in the U.S. on its OTR tire range July 1 by up to 5 percent, with “in-line” adjustments to come at a later date.
Yokohama attributed the price increase to the elevated costs of materials associated with the manufacturing of OTR products.
“The OTR industry is still facing the harsh realities of dealing with the high costs of raw materials,” said Gary Nash, vice president, OTR sales. “Adding to the challenge is the rising costs in transportation. That's why we find it necessary to have the increases reflected in our pricing. “
This will be YTC's third OTR tire price increase in the U.S. in less than a year. The Fullerton-based company raised prices Jan. 1 by up to 15 percent and by 11 percent on Sept. 1, 2011.