Yokohama Tire Corp. is implementing a price increase of up to 5 percent on all of its off-the-road (OTR) tires in the U.S., effective July 1, the company announced on June 15. There will be in-line adjustments as well, which will be announced at a later date.
Gary Nash, Yokohama vice president, OTR Sales, attributes the price increase to the elevated costs of materials associated with the manufacturing of OTR products.
“The OTR industry is still facing the harsh realities of dealing with the high costs of raw materials,” he said in a written press statement. “Adding to the challenge is the rising costs in transportation. That’s why we find it necessary to have the increases reflected in our pricing. As always, Yokohama will produce the best OTR tires at competitive prices using our latest technology and environmental procedures and integrating them with operational efficiencies.”