Yokohama Off-Highway Tires: Higher prices from 1 April

As a result of continued high raw material prices and “dramatically” rising freight costs in 2022, Yokohama Off-Highway Tires (YOHT) is increasing prices for its products from 1 April 2022. Announcing the upcoming changes, YOHT states that although it has absorbed “the majority of the costs” incurred upstream and during transportation and has thus implemented price increases that are “lower than industry average,” it is “unavoidable to pass a minor portion to its business partners.”

“Freight costs are factors we cannot control, we are feeling the increase as well, especially with this third freight surcharge since March 2021, totalling 3,250 euro per container,” shares Prabhakar Garimella, head of East – Yokohama Off-Highway Tires Europe. Koen van Gemert, YOHT’s head of Finance – Europe, adds that while the tyre maker is “forced to respond to the dynamics of the global market with a fifth increase since April last year,” he says the team at YOHT “always think about our business partners and how to reduce their burden.”

“Being transparent and maintaining a realistic balance between market expectations and factors such as costs is very important to us. Closely communicating with our business partners, especially during though times, is something we value greatly at YOHT,” concludes Ole Baek – YOHT’s head of North and France.