SANTA ANA, Calif. — Yokohama Tire Corp. (YTC) plans to raise prices May 1 on all replacement market passenger, light truck and medium truck tires sold in the U.S.
YTC did not at this time disclose the scale of the increase, which it said is due to "various economic factors and market dynamics."
YTC did not comment on prices in Canada.
Yokohama joins a growing list of companies that have raised prices recently or announced increases. Among them are:
- Apollo Tyres Ltd. — raised prices on Vredestein-brand products in the U.S. and Canada by up to 5%, effective March 1;
- Bridgestone Americas Inc. — increasing prices up to 8% on April 1 on its portfolio of Bridgestone-brand commercial truck tires and Bandag retreading products in the U.S. and Canada;
- Continental Tire the Americas L.L.C. — increased prices on select Continental- and General-brand passenger and light truck tires in the U.S., effective March 1;
- Goodyear — raising prices April 1 on all Goodyear-, Kelly- and Dunlop-branded passenger tires by up to 8% in North America;
- Michelin North America Inc. — raising prices on select Michelin, BFGoodrich and Uniroyal car and light truck tires in the U.S. and Canada by up to 8% on April 1, on top of a 5% increase imposed on Feb. 1;
- Pirelli Tire North America Inc. — raising car and light truck tire prices in the U.S. on April 15 by up to 7%; and
- Toyo Tire U.S.A. Corp. — raising prices in the U.S. on most consumer and commercial tires by up to 6%, effective May 1. Separately, Toyo Tires Canada is planning a similar price increase May 1 on "non-winter" passenger and light truck tires.