Yokohama raising tire prices

FULLERTON, Calif. (Oct. 2)—Yokohama Tire Corp. said it will raise passenger and truck tire prices as of Nov. 1. The company will boost aftermarket prices for passenger and light truck tires between 4-6 percent, and medium and light truck commercial tires 3-5 percent. The U.S. arm of Japan's Yokohama Rubber Co. Ltd. said costs to be in compliance with the TREAD Act, higher raw materials expenses and insurance premium increases prompted the price hike. The company said its action follows similar increases announced by its competitors. Kumho Tire USA earlier said it is raising prices on Nov. 1.