Yokohama Rubber Co. Ltd. says it will raise the prices of its tire exports incrementally, starting in September. The cost of raw materials is the main reason.
"This move is a measure to partially offset the high and rising cost of natural rubber and of synthetic rubber, carbon black and other petrochemical materials," says the company. A related rise in shipping costs also was responsible for the nearly across-the-board price increases.
Yokohama Rubber will raise the prices on its exported passenger, light truck, truck, construction and mining tires and tubes from 5% to 15%. The increases will vary by product and by market.
Further price increases are possible, adds the company.
