Yokohama Tire announced it will implement a price increase of an average of 8% on all of its light and medium commercial truck tires sold in the United States on July 1.
The rising cost of raw materials was cited as the primary reason for the increase, according to Rick Phillips, Yokohamaâ€™s director of commercial sales. But Phillips also blamed higher costs for manufacturing and transportation.
Yokohama boosted prices by 8% on all of its consumer tires back in February.
Yokohama Tire is the North American manufacturing and marketing arm of Tokyo-based Yokohama Rubber.
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