SANTA ANA, Calif.—Yokohama Tire Corp. (YTC) plans to raise replacement market prices on consumer and commercial truck tires sold in the U.S. by an undisclosed percentage on Nov. 1.
YTC said the move is in response to the "unparalleled rise" of freight and operational costs, as well as the continued increase in the cost of raw materials. The increase will be YTC's third this year and fourth in the past 12 months.
Earlier Yokohama raised prices in the U.S. on consumer replacement tires and commercial truck tires by undisclosed amounts on Aug. 1 and May 1.
Prior to that the company raised prices by up to 5 percent on Nov. 1, 2020, on consumer replacement tires, and by up to 6 percent on Dec. 1, 2020, on "select" commercial truck and bus tires by up to 6 percent.
The company did not disclose information pertaining to Canada.
Yokohama joins a number of other major tire companies to announced price increases for the fourth quarter. Among them are:
- Bridgestone Americas Inc.—by up to 8 percent in the U.S. and Canada on Bridgestone-, Firestone- and Fuzion-brand passenger and light truck tires; Bridgestone- and Firestone-brand truck and bus tires; Bridgestone- and Firestone-brand off-the-road (OTR) tires; and Firestone agricultural tires and tubes, effective Oct. 1;
- Continental Tire the Americas L.L.C.—by undisclosed amounts in the U.S. on select Continental- and General-brand passenger and light truck tires, effective Oct. 1;
- Giti Tire (USA) Ltd.—by an undisclosed amount on GT Radial, Giti, Primewell and Dextero-brand consumer and commercial tires, effective Oct. 1;
- Pirelli Tire North America Inc.—by up to 8 percent in the U.S. on car and light truck tires, effective Oct. 1;
- Sumitomo Rubber North America Inc. (SRNA)—by up to 10 percent in the U.S. and Canada on Oct. 1 on Falken- and Ohtsu-brand passenger, light truck and medium truck tires; and
- Toyo Tire U.S.A. Corp.—2 percent to 8 percent on select passenger car and light truck tires effective Nov. 1.
These are in addition to price increases by Cooper Tire & Rubber, Goodyear and Michelin North America on Sept. 1.