Yokohama Tire Corp. announced Monday, Nov. 22, it will increase prices on its light and medium commercial truck, and off-the-road tires in the United States, effective Jan. 1, 2011, due to continued increases in the cost of raw materials and energy-related expenses. Commercial tires will increase by up to 6 percent, while OTR (bias and radial) will increase by up to 5 percent.
“It’s a very difficult decision, especially in light of these tough economic times,” says Gary Nash, Yokohama vice president, OTR division. “However, by incorporating operational efficiencies with our environmental procedures and the latest technology, Yokohama remains committed to bringing the best products to the market at competitive prices.”
Other in-line price adjustments will be announced at a later date. “As always, we continue to do our best to contain costs,” says John Cooney, Yokohama director of commercial sales. “We have avoided increasing prices but unfortunately find it necessary to have the continued rise in the costs of raw materials, manufacturing and transportation reflected in our product pricing.”