RANCHO CUCAMONGA, Calif. — Sumitomo Rubber North America Inc. (SRNA) will raise prices May 1 in the U.S. and Canada on Falken- and Ohtsu-brand passenger, light and medium truck tires and Dunlop motorcycle tires by up to 8%.
The company said it will implement "inline adjustments" on a per size basis.
SRNA cited increased costs in transportation, labor, raw materials and other "market factors."
This will be the second price increase in the past five months for all the products noted in the latest announcement.
SRNA raised prices in the U.S. and Canada on Falken- and Ohtsu-brand medium truck tires on Dec. 1, 2020, by up to 6%, on Falken- and Ohtsu-brand passenger and light truck tires on Jan. 1 by up to 8%, and on Dunlop motorcycle tires on Feb. 15 by 2% to 15%.
SRNA's pricing announcement is the latest in a string of price hikes in North America by many of the leading tire makers.