Yokohama Tire Corp., citing "the continued rising costs of raw materials," says it will increase prices on its OTR tires by 3% to 5% effective Jan. 1, 2007.
"The record escalation of raw material costs, petroleum-related material and energy costs, as well as transportation costs, have combined to make price increases a necessity," says Gary Nash, director of OTR tire sales.
"Yokohama's improvements in operational efficiency have actually helped offset higher materials costs. In fact, the three to five percent bump is inline with all our other product lines."
The increase will apply to all OTR brands produced by Yokohama. Specific details, including inline adjustments, will be announced at a later date.
