More Toyo U.S.A. Price Rises

On January 4, Toyo Tire U.S.A. announced its intention to increase truck tyre prices by up to seven per cent, effective February 1. This announcement follows the company’s December 4 statement that prices on all its consumer and commercial tyres would rise by up to six per cent as of January 1, 2010. On both occasions the increases were said to be the result of escalating raw material costs.

When the December increase was announced, John Hagan, senior director, sales operations for Toyo Tire U.S.A., commented “we appreciate the continued support and understanding of our dealers as we manage our firm commitment to providing the highest quality products, with the steep increase in costs affecting our industry.”