RANCHO CUCAMONGA, Calif. — Sumitomo Rubber North America (SRNA) will increase prices in the U.S., Canada and the Caribbean on Falken- and Ohtsu-brand passenger, light truck and medium truck tires, effective March 1.
The company did not disclose the percentage increase, saying it will be implementing inline adjustments on a per-size basis.
SRNA said several factors prompted the need for this price increase, including increased costs for transportation, labor and raw materials and other market factors.
SRNA last increased tire prices Jan. 1, by up to 8% on Falken-, Ohtsu- and private-brand passenger and light truck tires in the U.S., Canada and the Caribbean.
Last year SRNA issued tire price increases on Aug. 1, May 1 and Jan. 1.