SANTA ANA, Calif. (Feb. 1, 2017) — Yokohama Tire Corp. plans to raise prices in the U.S. on its consumer, commercial and OTR tires by up to 7 percent, beginning April 1.
"This pricing action is necessitated by the high cost of raw materials and freight expenses that have impacted us in 2016 and will continue to be a factor in the business," said Rick Phillips, Yokohama Tire vice president of sales. "As always, Yokohama will continue to bring the best product to market at competitive prices."
Some in-line adjustments across consumer, commercial and OTR lines will be determined within the month, Mr. Phillips added.
Yokohama joins Carlstar Group, Dynamic Tire, Goodyear and Michelin North America Inc. as firms that have raised prices or announced price increases.