Falken and Ohtsu Tire Prices Will Rise on Aug. 1

Sumitomo Rubber North America Inc. will increase tire prices in the U.S., Canada and Puerto Rico on Aug. 1.

The price hike of up to 8% pertains to Falken and Ohtsu brand passenger, light truck and medium truck tires. The company also will implement inline adjustments on a per size basis.

SRNA says "several factors" prompted the need for the price adjustment, "including increased costs in both transportation and labor (and) raw materials," as well as "other market factors."