FULLERTON, Calif. (Nov. 3, 2008)—Because of what it called continuing “unprecedented increases in the cost of raw materials,” Yokohama Tire Corp. said it will boost prices 10 percent on all its consumer tires on Dec. 10 because of increases in raw material costs.
The change will cover passenger, performance and light truck tires and some in-line adjustments, the Yokohama Rubber Co. Ltd. unit said will be announced at a later date. OTR and commercial tires won't be affected by the increase at this time.
“It's a tough situation for all. Although we are currently seeing fluctuations in the costs of some raw materials, energy and transportation, they remain at elevated levels, not to mention the elevated cost of money in the current market,” said Shawn Denlein, Yokohama Tire director of sales, consumer products.