Toyo Announces Plan to Increase Consumer Tyre Prices
4 Apr 07
Emily Henry
Contributing Writer
Toyo Tire (USA) Corporation has announced that it
will increase its prices by up to 5 per cent on consumer
products. Along with many other top tyre companies who
have responded to the increased cost of raw materials
including natural rubber, Toyo Tire (USA) plans for the
price changes to become effective on May 1.
Steve Weinger, Senior Vice President of Sales and
Marketing, stated: “Due to the rapidly increasing raw
materials, energy, and transportation costs, we need to
adjust our pricing accordingly.” However, Mr Weinger
added on behalf of the company, “Toyo Tyres will
continue to maintain our high quality of products and
service.”
The announcement comes amid a wave of similar companies
increasing the prices of both Consumer and Industrial
Tyres. Many of the companies, including Yokohama and
Bridgestone Firestone, are set to implement their price
increases on the 1st of May, 2007. Toyo, along with
other leading brand companies, claim that the actions
they have taken are responsive to a changing
transportation market and that they will continue to
provide an economical service to the best of their
ability.
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