Yokohama announces OTR tire price increases
Yokohama Tire Corp. will increase OTR tire prices across the board effective July 15, 2005. The tire price increases will range from 5% to 8%.
Additional in-line adjustments will be made, added the company. (Yokohama says detailed pricing will be provided to dealers prior to the actual increase.)
The company cites "the continued escalation of petroleum-derived material costs, energy cost increases, freight cost increases and social cost adjustments" as the reason for the increases.
This is the second price increase on OTR tires Yokohama has announced this year. The company first increased prices on its OTR tires 3% to 8% on April 1.
Yokohama raised prices on its TBS and commercial light truck tires 5% to 6% effective June 1.
Michelin North America Inc. previously announced it will increase prices of its replacement earthmover tires sold in North America by an average of 7% effective July 1.