I wonder if the others will follow? 8/21/2006 Due to the soaring cost of raw materials, Yokohama will increase prices on all products starting Oct. 1, 2006. The continued record escalation of raw material costs, petroleum-related material costs and energy costs have made cost increases a necessity. Thanks to improvements in operational efficiency that has partially offset higher materials costs, the increases will be up to 7 percent on consumer tires, up to 7 percent on medium radial truck and bus tires and commercial light trucks, and up to 8 percent on off-the-road radial and bias tires. The increase will be on all products and all brands produced by Yokohama, including associate brands and private brands. Specific details, including in-line adjustments, will be announced at a later date. "Yokohama is committed to delivering the best products at competitive prices", said Jim MacMaster, Yokohama executive vice president, Business Division. "We will use our technology and ongoing improvements in manufacturing and operational efficiency to meet our customer needs."
Michelin to Raise Tire Prices I guess Michelin. Michelin will raise prices on its passenger and light truck tires between 6% and 8% as of Oct. 1 because of a continuing rise in raw material prices, The Associated Press reported. The price hikes will apply to tires sold as original equipment worldwide, Michelin said. Last month, Michelin cut its full-year margin forecasts as first-half net profit tumbled 29%, due in part to rising raw material costs, AP said. L&MT
