Yokohama Rubber Co. Ltd. will increase prices on its export tire products starting in April 2011. The company cites sharply rising raw material costs as the reason for the increases.
The price hikes will apply to all passenger, light truck, truck and bus tires exported outside Japan. The company says it "will endeavor to hold the increase within a maximum of 15%, but higher prices may be necessary for specific regions or products."
The rising costs of raw materials, including natural rubber, has made increasing prices necessary, says Yokohama.
"Despite continuous efforts to boost productivity and efficiency to offset those costs, the company has reluctantly concluded that it has no choice but to increase the prices of its export tire products at this time.
"Trends in costs of raw materials are uncertain. If the current situation continues, further action may be necessary in the future."
Yokohama Rubber is the latest tire manufacturer to increase tire prices. Here is a rundown.
Consumer
* Michelin North America Inc. will be increasing prices up to 8.5% on Michelin, BFGoodrich, Uniroyal and private and associate passenger and light truck replacement tires sold in the U.S. The prices will go into effect May 1. Michelin also raised prices on Feb. 1; the increases varied by product line.
(Michelin also announced it was raising Michelin and BFGoodrich passenger and light truck winter replacement tires sold in Canada by up to 7% on April 1.)
* Nexen Tire America Inc. raised tire prices up to 8% on April 1. The increases applied to warehouse orders and April FDC production. Nexen also raised prices "up to 8%" on Jan. 1.
* Toyo Tire U.S.A. Corp. increased prices on passenger and light truck tires by an average of 8%, with in-line adjustments, effective March 1.
* Hankook Tire America Corp. increased prices on its full line of passenger and light truck tires by a weighted average of 7%. The increases went into effect April 1.
* Cooper raised prices on its light vehicle tires on March 15. The increases in total averaged around 8% to 9%, with in-line adjustments.
* Continental Tire the Americas LLC raised consumer tire prices in the U.S. up to 6%, with some in-line adjustments, on April 1.
* Federal Corp. raised prices on its passenger and light truck tires by up to 12% effective March 1. The percentage increase varied by product lines and continents. There also were in-line adjustments for all onward orders and remaining back orders.
* Yokohama Tire Corp. increased prices by up to 8% on all of its consumer tires on March 1.
* Kumho Tire U.S.A. Inc. raised prices on all passenger, light truck and medium truck tires effective March 1. Kumho says the details of this increase will be provided to its customers in the near future.
* Goodyear Tire & Rubber Co. raised consumer tire prices on March 1. The increase, up to 6%, applied to all brands in the U.S. and Canada.
* Falken Tire Corp. also raised prices on March 1. The price hikes on Falken passenger and light truck tires ranged from 5% to 8% depending on the size, with in-line adjustments as needed.
* Bridgestone Americas Tire Operations LLC raised replacement and original equipment consumer tire prices on April 1, The increases on Bridgestone, Firestone and associate brand passenger and light truck tires in the U.S. and Canada varied up to 8%.
Commercial
* Michelin will increase prices on Michelin brand earthmover replacement tires sold in the United States and Mexico by up to 8% effective May 1. It will be the second increase this year; the company already increased prices on its earthmover (and industrial) replacement tires sold in North America up to 7% on Feb. 1.
Michelin increased prices on Michelin brand replacement agricultural tires sold in the U.S. and Canada on March 1. The hikes were up to 8%.
The company also raised prices an average of 12% on Michelin and BFGoodrich truck tires and Michelin Retread Technologies and Oliver retread products. on March 1. It first raised prices on Oliver and MegaMile retread rubber products sold in the U.S. up to 7% on Jan. 3.
(Michelin also is raising prices on its Michelin and BFGoodrich truck tires sold in Canada up to 7% on April 1.)
* Goodyear Tire & Rubber Co. raised prices on its commercial truck tires on April 1. The increases applied to all the company's brands, plus its tread rubber.
The increases were as follows: up to 15% on truck tires; up to 7% on tread rubber.
* Continental increased the price of its Continental, General and AmeriSteel brand truck tires by 10% on April 1 for replacement sales channels in the U.S. only.
* Yokohama implemented a price increase on all of its light and medium commercial truck tires in the United States on April 1. Prices were raised an average of 8%, with in-line adjustments.
* Double Coin and China Manufacturers Alliance LLC (CMA) hiked commercial tire prices an average of 13% on March 1. The price increases applied to the Double Coin radial truck and bus tires, all of its private brand radial truck and bus tires, and Double Coin radial off-the-road tires.
* Toyo increased prices on its commercial truck and OTR tires by an average of 8%, with in-line adjustments, on March 1.
* Hankook increased prices on its medium truck tires by a weighted average of 9%. The increases went into effect on tire shipments made on or after March 15.
* Titan Tire Corp. raised prices on its farm and construction tires on April 1. The increases, up to 8%, applied to both Titan branded products and Goodyear branded tires manufactured by Titan.
* Cooper Tire raised its commercial truck tire prices 12% across the board during the week of Feb. 6, 2010.
* The Bridgestone Off Road Tire, U.S. & Canada Commercial Tire Sales division increased prices on its mining, construction and industrial tires by 12%, "with some in-line adjustments" on March 1.
* The Bridgestone Agricultural Tire, U.S. & Canada Commercial Tire Sales division implemented a 4% price increase on April 1 on the following tires: Firestone agricultural, construction and forestry tires; Bridgestone garden tires; and Regency tires sold in the United States and Canadian replacement markets.
CGS Tyres Group (7.5% to 10% on farm and industrial tires), Titan Tire (up to 8% on farm and OTR tires), Yokohama Tire Corp. (up to 5% on bias and radial OTR tires) and Continental Tire the Americas (up to 8% on truck tires) raised their commercial tire prices on Jan. 1.
