SRI Increases Prices
SRI Tire Trading Ltd., the tyre export wing of the Sumitomo Rubber’ Group, will increase the prices of the company’s Dunlop, Falken and Sumitomo brands in Asia, the Near and Middle East, North America, Central and South America, Africa and Pacific nations. In Europe the price of Falken and Sumitomo brand passenger car, light truck, truck and bus and motorcycle tyres will also increase. The price hikes are expected to take place at the beginning in September and will be in the range of 5 to 10 per cent.
“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,” the company said in an official statement. The latest price increase follows 3-5 per cent price raise in the first half of this year.
In the US, Falken Tire Corp. said it will raise tyre prices on selected tyre lines as of 1 October. Due for increases – averaging 5 to 7 per cent – are Falken’s Ziex ZE-512 in 14 to 16-inch sizes; the RT615; the Radial A/P’ the Landair H/T and the STZ04.