On Friday, a major tire manufacturer announced the second price increase since July 2021.
In October 1 statement, tire maker Yokohama explained that the price increase is a result of rising costs for freight and materials:
“In response to the unparalleled rise of freight and operational costs, as well as the continued increase in the cost of raw materials, 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 November 1.”
This is the second truck tire price hike that the company has introduced in the past few months.
Yokohama announced a previous price increase in July 2021 that went into effect in August.