Yokohama Tire Corp. will increase prices on its light and medium commercial truck and off-the-road tires in the U.S. effective Jan. 1, 2011.
Commercial tire prices will increase by up to 6%, while OTR (bias and radial) will increase by up to 5%. There will be in-line adjustments, as well, which will be announced at a later date.
“It’s a very difficult decision, especially in light of these tough economic times,” says Gary Nash, Yokohama vice president, OTR division. “However, by incorporating operational efficiencies with our environmental procedures and the latest technology, Yokohama remains committed to bringing the best products to the market at competitive prices.”
John Cooney, Yokohama director of commercial sales, adds, “As always, we continue to do our best to contain costs. We have avoided increasing prices but unfortunately, find it necessary to have the continued rise in the costs of raw materials, manufacturing and transportation reflected in our product pricing.”
The company had previously announced it would raise its consumer tire prices up to 8%, effective Dec. 1, 2010.
Other tire manufacturers also have announced upcoming price hikes.
* Pirelli Tire North America will hike its consumer tire prices in the U.S. up to 7%, effective Dec. 1.
* Michelin North America Inc. is raising prices on its passenger, light truck and medium truck replacement tires sold in the U.S. In addition, Michelin and BFGoodrich brand medium truck tire prices will increase by an average of 8% on Dec. 1. On the same day, Michelin Retread Technologies Inc. retread prices will increase by the same amount.
On Feb. 1, 2011, Michelin, BFGoodrich, Uniroyal, private and associate brand passenger and light truck tire prices will increase. Hikes will vary by product line, according to Michelin officials.
Tire manufacturers that announced price hikes starting this month include:
* Bridgestone Americas Tire Operations raised prices on its Bridgestone, Firestone and associate brand passenger, light truck, medium truck, bus, agricultural and off-road tires by up to 8%.
* Toyo Tire U.S.A. Corp. raised its passenger, light truck and commercial truck tire prices up to 6%.
* Falken Tire Corp. increased prices on its passenger, light truck and medium truck tires up to 8%.
* Kumho Tire U.S.A. Inc. hiked prices on its consumer and medium truck tires up to 6.5%.
* Hankook Tire America Corp. raised its consumer and commercial tire prices up to 6.5%.
* And Cooper Tire & Rubber Co. increased consumer tire prices in North America by as much as 6.5%.
