RANCHO CUCAMONGA, Calif.—Sumitomo Rubber North America Inc. (SRNA) plans to raise prices in the U.S. and Canada by an undisclosed amount on Falken brand passenger, light truck and medium truck tires, effective July 1.
The company said it will be implementing inline adjustments on a per size basis.
The tire maker said several factors have created the need for the increase including rising costs in both transportation and labor and raw materials, "in addition to other market factors."
This will be the third time SRNA has raised prices on Falken-brand tires in 2022. It last raised prices by up to 8 percent on Falken- and Ohtsu-brand passenger, light truck and medium truck tires in the U.S., Canada and the Caribbean on March 1.