Yokohama Tire Corporation announced it will implement a price increase on its consumer replacement tires and commercial truck tires sold in the U.S., effective July 1. The increase, the company stated, “is in response to the unparalleled rise in costs associated with materials and operations.”
The company had increased the prices on its consumer replacement and commercial truck tires earlier this year, which went into effect February 1.
Previously, Yokohama Tire Corporation announced a price increase on its consumer replacement tires and commercial truck tires sold in the U.S., which became effective August 1, 2021.
This will constitute the third price increase in less than one year from the tire manufacturer.
See also: Yokohama Tire execs discuss strategy and tire trends
The August price increase came on the heels of new management changes, which became effective on July 1, 2021. Stan Chandgie was promoted from vice president of consumer sales to executive vice president of sales and support, while Heather Adelman, director of strategic accounts and consumer sales, was named vice president of consumer replacement sales.
Also in August of 2021, Yokohama Tire opened a 430,000 sq-ft distribution center in Wilmer, Texas. The full-service facility, located about 15 miles southeast of Dallas, is a LEED-certified sustainable building. The facility was first used to distribute Yokohama’s passenger car and light truck tires, followed by commercial truck and bus products in 2022, according to Rick Alonzo, Yokohama Tire’s VP of supply chain and logistics.
