Yokohama OHT says high cost of materials is impacting prices

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Yokohama Off-Highway Tires Europe says that materials cost and freight rates continue to rise at a dramatic pace on the global commodity markets.

Some raw materials have shown alarming increases (up to 30%), and these rises will inevitably have a knock-on effect on finished product prices.

In the case of YOHT, the company states that it will continue to absorb most of the additional costs; however, price increases of 5% will be applied on products from all plants and across the entire YOHT portfolio.

“Customers received the new price lists at the start of June 2021; the price increase will take effect from 1 July 2021,” explained Koen van Gemert, company head of finance – Europe.

This will mark the third price rise for YOHT in 2021, with others occurring in January and April, and will apply to the Galaxy and Alliance brands.

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Lawrence has been covering engineering subjects – with a focus on motorsport technology – since 2007 and has edited and contributed to a variety of international titles. Currently, he is responsible for content across UKI Media & Events' portfolio of websites while also writing for the company's print titles.

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