MIAMI — Sentury Tire USA is the latest tire manufacturer to announce a price increase, as the tire maker said prices will be raised on all orders invoiced after Dec. 1.
Sentury did not say how much the price will increase, nor did it specify any particular segments. The tire maker said territory representatives will contact customers to provide more detailed information about the company-wide increase.
"Increases in transportation and logistics costs have had a negative effect on production and general operating expenses," said Maxwell Wee, executive vice president of Sentury Tire USA. "Other factors for the price increase include the changing dynamics of the tire industry due to external pressures as a result of governmental actions and challenges in the supply chain across our industry."
Mr. Wee said that despite these challenges, Sentury continues "to see dynamic growth and (is) on target for a breakout sales year in 2019. We will continue to provide our dealer/distributor customers outstanding fill-rates and superior customer service."