Falken Tire Trading Ltd., the Japanese subsidiary of Sumitomo Rubber Industries Ltd., has instituted price increases on its passenger, light truck, truck and bus tire exports.
The increase, ranging from 3% to 5% depending on the product and market, is in effect in North America, Latin America, Southeast Asia, the Middle East and Africa.
Falken Tire Trading says rising natural rubber and other raw material prices have made the increases necessary.
On January 30, SRI Tire Trading Ltd., another tire exporting subsididary of Sumitomo Rubber Industries, raised prices on Sumitomo and, in some cases, Dunlop tires, including those shipped to North America.
The price increases also ranged between 3% and 5%.
