RANCHO CUCAMONGA, Calif. — Sumitomo Rubber North America Inc. (SRNA) plans to increase prices by an undisclosed amount in the U.S., Canada and Puerto Rico Dec. 1 on Falken-brand medium truck tires.
The move will include inline adjustments on a per size basis, SRNA said.
"Several factors have driven the need for this price increase, including increased costs in both transportation and labor, raw materials in addition to other market factors," the company said.
This will be SRNA's fifth price increase on medium truck tires in the past 12 months.
Earlier it raised prices on Oct. 1 by up to 10%, on Aug. 1 and May 1 by up to 8% both times, and on Dec. 1, 2020, by up to 6%.