Market forces Yokohama into price increases

  • Cost for freight and raw material continue to rise despite earlier expectations
  • Market developments largely absorbed by YOHT
  • Small proportion of higher cost still need to be passed on to business partners

Dramatically rising cost for raw materials and freight on the global commodity markets have forced Yokohama Off-Highway Tires (YOHT) to announce some moderate price increases in 2021. Keeping the increases low – and actually lower than industry average – has only been possible because YOHT absorbed the major part of these cost increases itself instead of passing them on to the customers.

Price increases are what manufacturers least like to announce. And yet, given the current situation in the markets, this cannot be avoided. YOHT is however, doing everything possible, to reduce the burden on business partners to the absolute minimum, explains Koen van Gemert, Head of Finance – Europe, at Yokohama Off-Highway Tires.

YOHT will further continue along this path. With an average increase of 4.5% across the entire portfolio of Yokohama Off-Highway Tires’ brands Alliance and Galaxy, once again only a smaller part of the growing cost will be passed on.

YOHT has confirmed that the new prices will be applied from the 1st of December 2021 and are applicable to products from all YOHT plants.