Yokohama To Up Price
Behind the price increases are the cost of raw materials including natural rubber that have skyrocketed and remain at extremely high levels.
Yokohama announced today that it will increase the prices of its export tire products starting from April 2011, due to sharply rising raw material costs. The price increases will apply to all tire products for passenger cars, light trucks, trucks and buses, and vehicles for construction and industry, for all markets outside Japan. The company will endeavor to hold the increase within a maximum of 15%, but higher prices may be necessary for specific regions or products.
Behind the company's price increases are the dual facts that costs of raw materials including natural rubber have both skyrocketed and remain at extremely high levels. Despite continuous efforts to boost productivity and efficiency to offset those costs, the company has reluctantly concluded that it has no choice but to increase the prices of its export tire products at this time.
Trends in costs of raw materials are uncertain. If current situation continues, further action may be necessary in the future.
Credits: wilswong
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