FULLERTON, Cal. — Yokohama has announced it will be increasing the cost of its off-the-road tires by 3-5% in the new year, due to the rising costs of raw materials.
“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 in line with all our other product lines.”
The off-road tires affected are used mostly in mining and construction applications. The company said it will continue to seek ways of lowering costs through technology and manufacturing improvements.
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