Yokohama Tire Corp. has announced it will implement a price increase of up to 11 percent on all of its off-the-road tires in the United States, effective Sept. 1. There will be in-line adjustments, as well, which will be announced at a later date.
Gary Nash, Yokohama vice president, OTR sales, attributed the price increase on the escalating costs of raw materials, such as natural rubber. “The entire OTR industry continues to be challenged with high costs of raw materials that it has had to contend with over the last few years,” he said. ”Compounding these costs are the rising costs in transportation and manufacturing. We regret to have to take the step but find it necessary to have the increases reflected in our pricing. As always, Yokohama will produce the best OTR tires at competitive prices using our latest technology and environmental procedures and integrating them with operational efficiencies.”
The company previously announced a price hike up to 10 percent on its off-the-road tires in the U.S., effective in May.
Yokohama Tire Corp. is the North American manufacturing and marketing arm of Tokyo, Japan-based The Yokohama Rubber Co., Ltd., a global manufacturing and sales company of premium tires since 1917.