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.