91��Ƶ

Yokohama Tire Corp. said Friday it will increase prices by up to 8% on all of its consumer tires, which include passenger, performance and light-truck tires, effective March 1.

There will be also be “in-line adjustments,” which will be announced at a later date, the company said in a statement.

“The price increase is due to the continued escalation of raw materials, as well as other costs associated with the manufacturing and transportation of consumer tires,” said Shawn Denlein, Yokohama’s consumer products director of sales.

The move follows recent announcements by other tire makers that they will be boosting prices due to higher raw materials costs.

Yokohama Tire Corporation is the North American manufacturing and marketing arm of Tokyo-based The Yokohama Rubber Co. Ltd.