Yokohama Tire Corporation has announced it will implement a price increase of up to 8% on all of its commercial truck tires in the U.S., effective February 1. The increase will also include in-line adjustments, which will be announced at a later date. The increase follows a previous announcement in September 2011 of an 8% increase in prices for light and medium commercial truck tires, which became effective October 1.
Here is the latest press release.
This increase follows a series of other tire price increases over the last three or four months, including a December 2011 announcement of a 15% increase in prices for OTR tires in the US, which became effective on January 1, 2012; and an October 2011 announcement of an 8% increase in prices for consumer tires (passenger, performance and light truck) in the US, which became effective on November 1, 2011.
These price increases reflect tight markets and increased raw material costs.
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