RANCHO CUCAMONGA, Calif.—Sumitomo Rubber North America (SRNA) is raising prices Oct. 8 in the U.S., Canada and Puerto Rico on Ohtsu-brand and Sumitomo Rubber-produced private label products by up to 30 percent.
This increase supersedes a 10-percent increase for Ohtsu-branded products that took effect Oct. 1, SRNA said, and will be the third increase in 2021 for Ohtsu-brand tires in North America.
The company raised prices on Ohtsu-brand passenger and light truck tires by up to 8 percent on May 1 and Jan. 1.
More recently it included Ohtsu-brand products in an Oct. 1 price increase on Falken-branded products, but now said that increase is included in the 30-percent increase slated for Oct. 8.
SRNA cited "dramatic increases" in costs as the driving need for this price action.