Due to the "continued record increases in the cost of raw materials and energy," Yokohama Tire Corp. says it will increase prices on its consumer and commercial tires.
The increases, which will go into effect Jan. 1, 2008, are as follows:
* passenger and light truck tires up to 7%;
* medium truck and light truck commercial tires up to 4%; and
* off-the-road (OTR) tires up to 5%.
In-line adjustments will be announced at a later date.
"In addition to raw materials, we're also seeing record-high transportation and energy costs," says Dan King, Yokohama vice president of sales. "Unfortunately, Yokohama's pricing must reflect these costs."
Hankook Tire America Corp. also is raising prices effective Jan. 1. The amount of the passenger and light truck tire increases -- "up to 5%" -- will vary by product line and/or size.
