Due to the continued rising costs of raw materials, Yokohama Tire Corporation announced it will increase prices on its Off The Road (OTR) tires by three to five percent beginning January 1, 2007.
"The record escalation of raw material costs, petroleum-related material and energy costs, as well as transportation costs, have combined to make price increases a necessity," said Gary Nash, Yokohama director of OTR tire sales. "Yokohama's improvements in operational efficiency have actually helped offset higher materials costs. In fact, the three to five percent bump is inline with all our other product lines."
The increase will be on all OTR brands produced by Yokohama. Specific details, including inline adjustments, will be announced at a later date.
"We'll continue to use our technology and ongoing improvements in manufacturing and operational efficiency to deliver the best products at competitive prices and meet our customers' needs," said Jim MacMaster, Yokohama executive vice president, Business Division.