Yokohama Tire Corp. announced a price increase on its tires effective June 1, 2004. Yokohama said it will increase prices "across the board" on its consumer, commercial and OTR tires as follows:
* 2% to 5% on consumer tires;
* 2% to 4% on commercial tire lines, which include light truck commercial and radial medium truck tires;
* 2% to 3% on OTR tires.
Additional in-line adjustments will be made, said the company.
Yokohama cited rising material, energy and freight costs as reasons for the price increases. Social cost adjustments also were taken into account.
Detailed pricing will be provided to dealers prior to the actual increase, added Yokohama.
