For the first time since July 1, 2008, Yokohama Tire Corp. is increasing prices on all of its consumer tires. Passenger and light truck tire prices will be raised up to 6% effective Jan. 1, 2010.
The increase is due to a continued rise in the cost of raw materials and transportation, according to the company.
“It was a difficult decision to raise prices, and we held off as long as we could,” says Shawn Denlein, director of sales for consumer products. "Unfortunately, the costs of some raw materials, energy and transportation continue to escalate, leaving us no option.”
There also will be some in-line price adjustments, which will be announced at a later date. Off-the-road and commercial tires will not be affected by the increase at this time.
Yokohama is not the only tire manufacturer to announce a price increase on consumer tires. Bridgestone Americas Tire Operations LLC (up to 5%), Continental Tire North America Inc. (up to 5%) and Nexen Tire America Inc. (8%) also will raise prices on Jan. 1.
Goodyear Tire & Rubber Co. (up to 6%) and Falken Tire Corp. (up to 7%) raised consumer tire prices on Dec. 1.
