Toyo to raise prices on 'select' tires in the US

Cypress, California – Toyo Tire USA Corp. will increase dealer base prices on select passenger, light truck and commercial truck tires, effective 1 Jan.

The increases will affect these products: Extensa A/S; Extensa HP II; Proxes 4 Plus; and Versado Noir for passenger cars; and the Open Country Q/T; Open Country A/T II; Open Country R/T; and Open Country M/T for light trucks and SUVs.

Toyo said commercial truck tire prices will increase 2%, except prices of the Toyo M320Z on-off-road tire, which will remain the same.

Toyo did not announce the percentage of price increase for the passenger and light truck lines.

Randy Gaetz, senior vice president, sales of Toyo Tire USA, said market dynamics and government actions "have made it necessary to adjust our prices.

"As always, we remain committed to providing excellent products, service and quality for our dealers and consumers; and greatly appreciate their business."

Toyo is among several manufacturers who have announced price increases over the last six months.