CYPRESS, Calif. (Feb. 22, 2011)—Toyo Tire U.S.A. Corp. said it will increase prices for its passenger, light truck, commercial truck and off-road tires by an average of 8 percent on March 1.
The continuing rise in raw material costs are behind the decision, the company said.
The company last hiked prices on passenger, light truck and commercial truck tires by up to 6 percent on Nov. 1, and boosted them 8 percent on June 1 passenger car, LT, commercial truck and OTR tires.
Last December in Japan, Toyo's parent, Toyo Tire & Rubber Co. Ltd., increased truck, bus and commercial light truck tires sold in its domestic market by an average of 7 percent.