RANCHO CUCAMONGA, Calif. — Sumitomo Rubber North America Inc. will raise prices in the U.S. and Canada on Falken- and Ohtsu-brand consumer and medium truck tires in the coming months.
Prices of passenger and light truck tires will increase by up to 8%, effective Jan. 1. SRNA said. Prices of medium truck tires are set to rise up to 6%, effective Dec. 1.
The action will include inline adjustments on a per size basis, SRNA added.
SRNA last raised prices on Falken-brand tires on March 1, by up to 5%.
The Rancho Cucamonga-based company cited several factors for the need to raise prices, including increased costs in both transportation and labor as well as other market factors.
Other companies to announce recent price increases include:
- Goodyear on all Goodyear- and Dunlop-branded passenger and light truck tires in the U.S. by up to 5%, on Dec. 1;
- Hankook Tire America Corp., on its lines of commercial truck tires in the U.S. by up to 5% on Dec. 1;
- Yokohama Tire Corp., by up to 5% on select consumer replacement tires sold in the U.S., effective Nov. 1; and by up to 6%, effective Dec. 1, on "select" commercial tire lines; and
- Bridgestone Americas Corp., on radial Firestone truck and bus tires, effective Nov. 1, by an average of more than 5%, with some prices by more than 8%.