Retail

Toyo will raise prices up to 5%

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Toyo Tire (U.S.A.) Corp. is the latest tiremaker to announce a May 1 price increase, up to 5% for consumer tires.

"Due to the rapidly increasing raw materials, energy, and transportation costs, we need to adjust our pricing accordingly," says Steve Weinger, senior vice president of sales and marketing for Toyo.

Continental Tire North America Inc. and Yokohama Tire Corp. also have recently announced they will implement price increases on May 1.

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