Yokohama Tire Corp. will raise its consumer prices up to 8% on June 1 due to escalating raw material, manufacturing and transportation costs.
Passenger, high performance and light truck tires will be included in the hike. Yokohama also will make some in-line adjustments.
"Raising prices is always a difficult decision," says Shawn Denlein, Yokohama's director of sales, consumer products. “We’ve been doing our best to contain our costs, but the continued rise in raw materials, energy and transportation must, unfortunately, be reflected in Yokohama’s pricing.”
“Even with our operational efficiencies, environmental procedures and the latest technologies, today’s tough business climate makes it a challenge to contain costs," says Jim MacMaster, the company's vice president and COO.
June 1 will be a big day for price hikes. Bridgestone Americas Tire Operations, Continental Tire the Americas LLC,.Cooper Tire & Rubber Co., Falken Tire Corp., Hankook Tire America Corp. and Michelin North America Inc. all will raise prices on various products that day.
Bridgestone will raise prices on its Bridgestone, Firestone and associate brand passenger and light truck tires up to 6%, U.S. market only. Continental will hike passenger and light truck tire prices up to 6% and medium truck tire prices up to 7%.
Cooper will increase prices on all of its passenger and light truck tires up to 7.5%. Falken will increase prices on its passenger and light truck tire lines up to 6%, while boosting its radial medium truck tire prices by up to 4%.
Hankook Tire America Corp. will raise its passenger, light truck and medium truck tire prices up to 6%.
Michelin will increase prices on its Michelin, BFGoodrich, Uniroyal, private and associate brand passenger and light truck tires up to 6%, replacement channel only.
