Goodyear Tire & Rubber Co. and Yokohama Tire Corp. will increase their consumer tire prices effective June 1. Goodyear will raise prices up to 5%; Yokohama will raise prices up to 7%.
Goodyear: Increases will affect the Goodyear, Dunlop and Kelly brands, plus the Akron, Ohio-based tiremaker's private and associate brands.
A Goodyear spokesman told moderntiredealer.com that the increases are necessary due to rising raw material and energy costs.
Yokohama: Prices will be increased "across the board" on Yokohama, Mohawk and private brand consumer tires. Additional in-line adjustments will be made (detailed pricing will be provided to dealers prior to the actual increase).
The company has cited "the continued escalation of petroleum-derived material costs, energy cost increases, freight cost increases and social cost adjustments" as the reason for the increase.
