Yokohama Tire Corp. on Monday, June 13, announced that it will implement a price increase of an average of 8 percent on all of its light and medium commercial truck tires sold in the United States, effective July1. There also will be in-line adjustments, which will be announced at a later date.
The rising cost of raw materials was the primary reason for the increase, according to Rick Phillips, Yokohama director of commercial sales. “Further, other factors also influenced the increase, such as the costs associated with manufacturing and transportation, which continue to escalate,” Phillips says.
