Yokohama Tire Corp. will raise its OTR tire prices up to 5% and medium truck tire prices up to 6%, effective next month. In-line adjustments will be determined at a later date.
Yokohama officials say the increases are necessary due to escalating raw material and other costs.
"We have been doing our best to contain the soaring costs of raw material, manufacturing and transportation," says Dan King, Yokohama's vice president of sales. "Unfortunately, Yokohama's pricing must reflect these record costs."