Yokohama Tire Corp. will increase prices on all of its consumers tires by up to 10%, effective Dec. 1, 2008. Passenger, performance and light truck tires will be affected.
There will also be some in-line adjustments, which will be announced at a later date, according to the company. Off-the-road and commercial tires will not be affected by the increase "at this time."
Yokohama cites this year's unprecedented increases in the cost of raw materials as the reasons for the price adjustments.
"It's a tough situation for all," says Shawn Denlein, director of consumer product sales. "Although we are currently seeing fluctuations in the costs of some raw materials, energy and transportation, they remain at elevated levels, not to mention the elevated cost of money in the current market."
"We strive to keep costs down and continually bring the best products to market at competitive prices," says Jim MacMaster, executive vice president of Yokohama's Business Division. "Our operational efficiencies, environmental procedures and the latest technology help, but today's challenging business climate makes it extremely difficult to contain costs."
