Yokohama announces commercial tire price increases
Effective February 1, 2006, Yokohama Tire Corp. will increase prices 3% on all light truck commercial and medium radial truck tires. Yokohama also will increase prices across the board on its OTR tires ranging from 3% to 6%.
Additional in-line adjustments will be made as well. Detailed pricing will be provided to Yokohama's dealers prior to the actual increase.
The company has cited the following reasons for the price increases:
* continued escalation of petroleum-derived material costs;
* energy cost increases;
* freight cost increases; and
* social cost adjustments.
Yokohama last raised prices on its commercial tire offerings on Oct. 1.
Michelin North America Inc. also will increase tire prices on its commercial truck tires Feb. 1. The increases will range from 4% to 7% on Michelin and BFGoodrich brand replacement tires sold in the United States.
Michelin will raise replacement tire prices on its Michelin earthmover tires (by an average of 8%) and agricultural tires (from 3% to 7%) effective Jan. 1.