SRI announces more price increases on tire exports
SRI Tire Trading Ltd., the tire exporting company of the Sumitomo Rubber Group, will increase export prices on its Dunlop, Falken and Sumitomo consumer and commercial tires. Motorcycle tire prices also will be raised.
Tires exported to North America, South America, Europe, the Near and Middle East, Africa, the Pacific nations and other parts of Asia will be affected.
The price increases will range from 5% to 15%, depending on tire categories, tire sizes and markets. They will begin in July, but will not be applied at the same time.
SRI says the increases are "due to the price surge of tire materials, including natural rubber and crude oil, whose prices have been rising since last year and (are) beyond our efforts to absorb internally."
The company also implemented 3% to 7% price increases earlier this year.