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Yokohama Off-Highway Tires (YOHT) EMEA Largely Buffers Strong Cost Increases On The Market
Keywords: Tire
Tags: Yokohama Tires
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Challenging availability of components / Rising prices for raw materials such as natural and synthetic rubber / Increased freight cost / Most of additional cost will not affect YOHT EMEA customers (Alliance and Galaxy brand).
The situation on global commodity and freight markets currently leads to major effects for Yokohama Off-Highway Tires in terms of availability of, and cost for raw materials and shipment. Prices for natural rubber, synthetic rubber and chemicals etc. have seen a severe increase. The same is true for ocean freight cost. Despite these very challenging conditions, customers will only face a fairly moderate increase of tire prices.
“The rising cost of some major raw materials is becoming more and more of a challenge, and prices are going through the roof”, says Angelo Noronha, President EMEA at Yokohama Off-Highway Tires. He continues: “In sum, this makes for strong effects, most of which will be absorbed by YOHT EMEA and hence will keep consequences for our customers to the minimum. However, a 4.5 to 5.5 per cent increase of prices will be inevitable.”
The first price increase of 4.5% to 5.5% was implemented on 1st of January 2021. The new pricing will apply to the entire portfolio of Yokohama Off-Highway Tires EMEA (Alliance and Galaxy brand) and will take effect from 1st of April 2021.
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