SANTA ANA, Calif. — Yokohama Tire Corp. is raising prices in the U.S. by as much as 5% on its consumer tires, effective Nov. 1.
The price hike covers passenger, high-performance and light truck tires. It's YTC's first announced consumer tire price increase in over two years.
Yokohama is one of several tire makers that have announced price increases.
Pirelli Tire North America L.L.C. plans to raise prices on replacement market passenger and light truck tires in the U.S. on Oct. 1 but declined to say by how much. The increase will vary by line and tire size, and that it will communicate directly with its customers on the size of the increases. Pirelli also raised prices by an average of 6% on Jan. 1.
Michelin North America Inc. increased prices on selected Michelin-and BFGoodrich-brand passenger and light-truck tires in the U.S. and Canada by up to 5% on Sept. 1. Michelin also raised passenger and light-truck tire prices in the U.S. and Canada by up to 5% on Jan. 1, which included Uniroyal-brand consumer tires and Michelin-brand two-wheeler tires, sold in the U.S. and Canada.
Cooper Tire & Rubber Co. raised prices on its Cooper- and Roadmaster-brand truck tires to compensate for the elevated import duties levied by the U.S. government on truck tires from China. The increases were effective after the start of the second quarter. Cooper declined to disclose the scale of the increase.