Yokohama Tire Corp. announced a price increase of up to 4% on all of its commercial and off-the-road tires sold in the U.S., effective Sept. 1.
The company already increased tire prices in April by up to 7% due to increases in the cost of raw materials and freight expenses, according to the company.
“We reluctantly took a first-step price increase in early 2017 in response to the escalation in operating and material costs that peaked in late 2016,” said Jeff Barna, Yokohama Tire COO. “That modest increase left us under-recovered, hence requiring us to take further action.”
Yokohama Tire Corp. is the North American manufacturing and marketing arm of Tokyo, Japan-based The Yokohama Rubber Co., a global manufacturing and sales company of tires.