Yokohama Tire Corp., with North American operations based in Santa Ana, California, has announced it will implement a price increase of up to 4 percent on all of its commercial and off-the-road (OTR) tires sold in the U.S., effective Sept. 1, 2017. Some in-line adjustments on consumer tires will also be implemented at the same time.
“We reluctantly took a first-step price increase in early 2017 in response to the escalation in operating and material costs that peaked in late 2016,” says Jeff Barna, Yokohama Tire chief operating officer. “That modest increase left us under-recovered, hence requiring us to take further action.”
Yokohama Tire is the North American manufacturing and marketing arm of Tokyo-based Yokohama Rubber Co. Ltd., a maker of tires celebrating its 100th anniversary in 2017. The company’s product line includes tires for high-performance, light truck, passenger car, commercial truck and bus and off-the-road mining and construction applications.