Yokohama Tire Corp. announced it has implemented a price increase of an average of 8% on all of its light- and medium-duty commercial truck tires sold in the U.S. There will be in-line adjustments, as well, which will be announced at a later date, the tire maker added.
The rising cost of raw materials was cited as the primary reason for the increase, according to Rick Phillips, Yokohama director of commercial sales. “Further, other factors also influenced the increase, such as the costs associated with manufacturing and transportation, which continue to escalate.”
Phillips said that despite the cost increase, “Yokohama will continue to bring the best commercial tires to market at competitive prices using our operational efficiencies and latest technology.”