Due to continued increases in the cost of raw materials and energy-related expenses, Yokohama Tire Corp. Announced Monday, Jan. 25, that it will increase prices on its light and medium commercial truck tires by up to 7 percent, effective March 1, 2010. The last commercial truck tire price increase from Yokohama was Sept. 1, 2008.
“As always, it’s a very difficult decision to increase prices,” says John Cooney, Yokohama director of sales, Commercial Division. “We’ve been doing our best to contain our costs, but the continued escalation in the costs of raw materials, energy and transportation must be reflected in Yokohama’s pricing, unfortunately.”
The company says there will be in-line adjustments that will be announced at a later date, and that off-the-road (OTR), light-truck and consumer tires will not be affected by the increase. “Yokohama remains committed to bringing the best products to the market at competitive prices by integrating operational efficiencies, environmental procedures and the latest technology, but today’s challenging business climate makes it difficult to suppress costs,” says Jim MacMaster, Yokohama executive vice president and chief operating officer.