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October 14, 2021 << Back to Press Release
October 14, 2021
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 /
14.10.2021 | Amsterdam
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.
About Yokohama Off-Highway Tires:
Yokohama Off-Highway Tires (YOHT) specializes in the design, development, manufacturing and marketing of Agriculture, Forestry, Construction, Industrial, Earthmoving, Mining and Port and other commercial tires. YOHT owns the world-renowned brands Alliance, Galaxy and Primex and is present in over 120 countries. With a diverse product portfolio that includes more than 4000 SKUs, YOHT is well-known for its ability to offer customers, both aftermarket and OEM, with superior quality application-specific and purpose-built tires.