FULLERTON, Calf. (Dec. 2, 2009)—Yokohama Tire Corp. is boosting prices on its consumer tires by up to 6 percent, effective Jan. 1.
The North American manufacturing and marketing arm of Tokyo, Japan-based Yokohama Rubber Co. Ltd. said the price hike is a result of continued increases in raw material costs and transportation. All passenger, performance and light truck tires will be impacted.
There also will be some in-line adjustments, which will be announced at a later date, the company said, adding that off-the-road and commercial tires will not be affected by the increase at this time. The last price increase from Yokohama was put in place July 1, 2008.
“It was a difficult decision to raise prices, and we held off as long as we could,” said Shawn Denlein, Yokohama Tire director of sales, consumer products. “Unfortunately, the costs of some raw materials, energy and transportation continue to escalate, leaving us no option.”