Toyo to raise U.S. truck tire prices 5% on May 1
CYPRESS, Calif. — Toyo Tire U.S.A. Corp. is raising dealer base prices May 1 on its commercial tire range by an average of 5 percent, with the exception of the Toyo M320 on-/off-road tire.
“Further government actions have made it necessary to adjust our commercial tire prices,” said Randy Gaetz, senior vice president, sales, referring to the recent imposition of elevated import duties on tires sourced from China.
“As always, we remain committed to providing excellent products, service and quality for our dealers and consumers. We greatly appreciate their business.”
The increase is in addition to a 2-percent rise that Toyo implemented Jan. 1 on its commercial truck tire line, again with the M320Z on-off-road range — which is produced in Japan — exempted.
The U.S. Commerce Department determined a countervailing rate of 42.16 percent for companies falling under the “all others” rate, which includes Toyo’s operations in China.
SOURCE : TIRE BUSINESS