RANCHO CUCAMONGA, Calif. —Sumitomo Rubber North America (SRNA) said it will increase prices in the U.S. and Canada on Falken brand passenger, light truck and medium truck products by up to 7%, effective May 1.
The company said increases will be implemented on a per-size basis and the minimum advertised pricing (MAP) program will be updated to reflect changes.
SRNA pointed to several factors for driving the price hike, including increased costs in transportation, labor and raw materials in addition to other market factors.
SRNA last raised prices in the U.S. and Canada by an undisclosed amount on Falken brand passenger, light truck and medium truck tires, on July 1, 2022.