Yokohama Tire Corp. increasing OTR tire prices 11 percent
Tina Grady Barbaccia | August 18, 2011
Yokohama Tire Corp. plans to implement a price increase of up to 11 percent on all of its off-the-road (OTR) tires in the U.S., effective Sept. 1. There will be in-line adjustments, as well, which will be announced at a later date.
Gary Nash, Yokohama vice president, OTR Sales, attributed the price increase on the escalating costs of raw materials, such as natural rubber.
“The entire OTR industry continues to be challenged with high costs of raw materials that it has had to contend with over the last few years,” he said. ”Compounding these costs are the rising costs in transportation and manufacturing. We regret to have to take the step but 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.”
MORE FROM Economics
- Vehicles covered in oil and grime after construction project gone wrong991 Views
- Think you're a good driver? Try staying in these crooked lanes [VIDEO]959 Views
- Homeless forced to relocate due to bridge construction461 Views
- A road without fibers is a road soon to be in need of repair439 Views
- How to become a more productive highway construction worker342 Views