Yokohama Tire Corp. has announced it will implement a price increase of up to 5% on all of its off-the-road (OTR) tires in the U.S., effective July 1. There will be in-line adjustments as well, which will be announced at a later date.
Gary Nash, Yokohama vice president, OTR Sales, attributed the price increase to the elevated costs of materials associated with the manufacturing of OTR products. “The OTR industry is still facing the harsh realities of dealing with the high costs of raw materials,” he says. “Adding to the challenge is the rising costs in transportation. That’s why we find it necessary to have the increases reflected in our pricing.”
Yokohama is the latest tire manufacturer or marketer to implement or announce price increases in 2012.
Consumer
* Michelin North America Inc. increased prices up to 6% on Michelin compact and agricultural tires sold in the United States and Canada effective May 1.
*Goodyear Tire & Rubber Co. raised prices on all its consumer tire brands effective April 1. Prices in the U.S. and Canada were raised up to 6%.
* Yokohama Tire Corp. increased prices by up to 8% on all of its consumer tires sold in the U.S. on March 1.
* Toyo Tire U.S.A. Corp. increased prices on passenger, light truck and commercial truck tires to a weighted average of 6% on Jan. 1.
* Falken Tire Corp. raised prices on Falken and Ohtsu brand passenger and light truck tires up to 5% -- with some inline adjustments -- on Jan. 1.
Commercial
* China Manufacturers Alliance LLC (CMA) raised prices on Double Coin radial truck and OTR tires on April 1. The increases were up to 5%, with some in-line changes.
* Goodyear increased commercial tire prices in the U.S. up to 6% on April 1.
* Continental Tire the Americas LLC (CTA) raised prices on all Continental, General and Ameri*Steel brand commercial truck tires up to 9% on Feb. 15. The increase affected all replacement sales channels in the U.S.
* Yokohama implemented a price increase of up to 8% on all of its commercial truck tires in the U.S., effective Feb. 1. The company also raised prices on its OTR tires up to 15% effective Jan. 1.
* Bridgestone Americas Commercial Solutions, a business unit of Bridgestone Americas Tire Operations LLC, also raised prices on its OTR tires effective Jan. 1. The 15% price increase applied to Bridgestone, Firestone and Continuum off-road tire products and Continuum pre-cure tread rubber and related retreading materials.
Canada only
* Yokohama Tire (Canada) Inc. will change prices on selected consumer and commercial tires effective July 1, 2012. Average increases of 2.5% to 3% and "a number of significant decreases" will be implemented for Yokohama’s consumer tire line. Price increases averaging 5% will be applied to the Yokohama commercial tire line. Here are the specifics :an average increase of 2.5% will be applied to the Avid ENVigor line of all-season high performance touring tires; an average increase of 2.8% will be applied to Geolander H/T-S light truck tires; an average of 3% will be applied to car and light truck winter tire products. Pricing on nine models of the new Avid Ascend will be reduced from 6% to 14%. Prices on the Avid ENVigor ZPS will drop between 14% and 24%, depending on the size. The commercial tire line will experience an average increase of 5%, with the largest increase of 6% applied to selected products. The company also has announced the addition of the SmartWay-verified TY17MC2 premium on-highway drive-axle tire to the line-up.
* Toyo Tire Canada Inc. will increase prices on the Toyo winter passenger and winter light truck tires up to 3.5% effective April 1st, 2012.
* Continental Tire Canada raised prices on all Continental, General and Ameri*Steel brand replacement truck tires up to 9% on April 1, 2012.
* Bridgestone Americas raised prices effective Jan. 1. The 10% price increase applied to Bridgestone, Firestone and Continuum off-road tire products and Continuum pre-cure tread rubber and related retreading materials
