SANTA ANA, Calif. —Yokohama Tire Corp.plans to raise prices July 1 in the U.S. on replacement market consumer and commercial tires by an undisclosed amount.
It will mark the company's second increase in 2022 and sixth increase since December 2020.
Yokohama said the increase is "in response to the unparalleled rise in costs associated with materials and operations."
The company did not say whether the pricing action would affect Canada as well.
The last Yokohama price increase went into effect Feb. 1, when it raised prices by an undisclosed percentage on its replacement market consumer and commercial truck tires.
Yokohama raised prices three times in 2021: May 1, Aug. 1 and Nov. 1, each by an undisclosed percentage; and by up to 6% on Dec. 1, 2020, on "select" commercial truck and bus tires.