SRI To Increase Tyre Prices Overseas
SRI Tire Trading Ltd., the tyre export branch of the Sumitomo Rubber Group, will increase the prices of the company’s Dunlop, Falken and Sumitomo brand tyres for passenger cars, light trucks, trucks and buses and motorcycles in the Asia, Near and Middle East, North America, Europe, Central and South America, Africa and Pacific nations beginning September. The price increase will be in the range of 5 to 10 per cent, depending on tyre categories, tyre sizes and markets.
“The price increase is due to the price surge of tyre materials in accordance with high prices of natural rubber and crude oil having continued since last year, which is beyond our efforts to absorb internally,” an official statement said. This is the company’s second price increase this year and follows a 3-5 per cent price rise in the first half of this year.