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March 8, 2021 << Back to Press Release
March 8, 2021
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 Y-ATG EMEA customers (Alliance and Galaxy brand).
The situation on global commodity and freight markets currently leads to major effects for Yokohama ATG 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 ATG Tires. He continues: “In sum, this makes for strong effects, most of which will be absorbed by Y-ATG 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 ATG Tires EMEA (Alliance and Galaxy brand) and will take effect from 1st of April 2021.
