Yokohama Tire Corp. will raise prices up to 4% on all of its commercial and off-the-road (OTR) tires sold in the U.S., effective September 1. The prices of some consumer tires will go up, too.
Some in-line adjustments on consumer tires will be implemented at the same time, according to Yokohama. The company did not specify which consumer tires would be affected by the price increase.
“We reluctantly took a first-step price increase in early 2017 in response to the escalation in operating and material costs that peaked in late 2016,” says Jeff Barna, chief operating officer.
“That modest increase left us under-recovered, hence requiring us to take further action.”