SANTA ANA, Calif. — Yokohama Tire Corp. will raise prices Sept. 1 of commercial and OTR tires sold in the U.S. by up to 4 percent, with some "in-line adjustments" on consumer tires at the same time, the company disclosed today.
"We reluctantly took a first-step price increase in early 2017 in response to the escalation in operating and material costs that peaked in late 2016," said Jeff Barna, Yokohama Tire's chief operating officer, referring to YTC's April 1 increase of up to 7 percent on its consumer, commercial and OTR tires.
"That modest increase left us under-recovered, hence requiring us to take further action."
Santa Ana-based YTC is the North American manufacturing and marketing arm of Tokyo, Japan-based Yokohama Rubber Co. Ltd.