RANCHO CUCAMONGA, Calif.—Sumitomo Rubber North America Inc. (SRNA) plans to raise prices in the U.S. and Canada on Oct. 1 on Falken- and Ohtsu-brand passenger, light truck and medium truck tires by up to 10 percent.
SRNA cited several factors for the need to raise prices, including increased costs in transportation, labor and raw materials; the action will include inline adjustments on a per size basis, the company said.
The action will be SRNA's fourth price increase in the past 10 months. Others were:
- By up to 8 percent on Aug. 1 on prices in the U.S., Canada and Puerto Rico;
- By up to 8 percent on May 1 in the U.S. and Canada on passenger, light and medium truck tires and Dunlop motorcycle tires by up to 8 percent; and
- By up to 8 percent on Jan. 1.
Other price increases announced recently include:
Toyo Tire U.S.A. Corp.—2 percent to 8 percent on select passenger car and light truck tires effective Nov. 1.
Giti Tire (USA) Ltd.—by an undisclosed amount on GT Radial, Giti, Primewell and Dextero-brand consumer and commercial tires, effective Oct. 1;
Bridgestone Americas Inc.—by up to 8 percent in the U.S. and Canada on Bridgestone-, Firestone- and Fuzion-brand passenger and light truck tires; Bridgestone- and Firestone-brand truck and bus tires; Bridgestone- and Firestone-brand off-the-road (OTR) tires; and Firestone agricultural tires and tubes, effective Oct. 1;
Pirelli Tire North America Inc.—by up to 8 percent in the U.S. on car and light truck tires, effective Oct. 1;
Continental Tire the Americas L.L.C.—by undisclosed amounts in the U.S. on select Continental- and General-brand passenger and light truck tires, effective Oct. 1;
These are in addition to price increases by Cooper Tire & Rubber, Goodyear and Michelin North America on Sept. 1.