Sumitomo Rubber Announces Price Increases

Sumitomo Rubber North America will increase prices in the U.S., Canada and Puerto Rico on Falken and Ohtsu brand passenger, light truck and medium truck tires and implement inline adjustments on a per size basis. The price increase of up to 8% will be effective August 1. The company says several factors have driven the need for this price increase including increased costs in both transportation and labor, raw materials in addition to other market factors.