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Yokohama will raise prices on its light and medium commercial truck tires

Yokohama Tire Corp. has announced that effective January 1st, 2011, it will be raising prices on its complete lineup of light and medium commercial truck tires. In addition to a 6% hike on commercial tire prices and a 5% increase on bias and radial OTR tires, Yokohama also plans to announce additional in-line price adjustments at a future date.

Gary Nash, Yokohama VP of the OTR division, explains, “It’s a very difficult decision, especially in light of these tough economic times. However, by incorporating operational efficiencies with our environmental procedures and the latest technology, Yokohama remains committed to bringing the best products to the market at competitive prices.”

John Cooney, Yokohama director of commercial sales, adds, “As always, we continue to do our best to contain costs. We have avoided increasing prices but unfortunately, find it necessary to have the continued rise in the costs of raw materials, manufacturing and transportation reflected in our product pricing.”

Yokohama’s price hike is part of a growing industry trend among top tire manufacturers. Pirelli, Michelin, BFGoodrich, Bridgestone, Toyo, Falken, Kumho, Hankook, and Cooper have all planned similar increases.

For dealers looking to extend profit margins, now is the time to stock up on wholesale tires and wholesale truck tires at current prices. Once manufacturers adjust their price tags, consumers will be forced to shell out the extra cash.

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Filed under: Tire Business Tips, Tire News, Truck/Commercial Tires, Yokohama Tires

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