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Yokohama and Hankook Announce Tire Price Increases

Yokohama to raise prices up to 8 percent; Hankook up to 6 percent.

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Yokohama Tire Corp. and Hankook Tire America Corp. have joined Continental Tire as the latest manufacturers to announce new price increases on passenger tires.

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Effective June 1, Yokohama is increasing prices on all of its consumer tires by up to 8 percent. The increase, due to escalating costs of raw materials, manufacturing and transportation, includes passenger, performance and light truck tires. The company said there also will be some in-line adjustments at this time. Off-the-road and commercial tires will not be affected by the increase.

Hankook is raising prices by up to 6 percent on its full line of passenger, light truck and medium duty truck tires. The amount of the increase will vary by product line and size. The increases also take effect on all shipments as of June 1.

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