SANTA ANA, Calif. — Yokohama Tire Corp. plans to raise prices of consumer replacement tires sold in the U.S. by up to 5%, effective Nov. 1.
Yokohama said the increase includes high-performance, light truck and passenger tires. The tire maker did not cite the reason behind the increase.
YTC last raised prices in the U.S. a year ago, increasing consumer tire prices by 5% at that time as well.
Yokohama becomes the second tire maker to raise prices recently.
Bridgestone Americas Tire Operations also is planning to raise prices Nov. 1, on all radial Firestone truck and bus tires sold in the U.S by an average of more than 5%, with some prices by more than 8%.
Firestone said the price hike is due to current market conditions, including rising production and transportation costs.
