SRI Increasing Tyre Prices in Global Markets
SRI Tire Trading Ltd. has announced that prices for its Dunlop, Falken, Sumitomo and Ohtsu brand tyres are increasing in numerous markets. The price increases take effect in November, however Sumitomo Rubber comments that the exact date will vary from country to country. The planned price increases apply to the passenger car, light commercial vehicle, truck and motorcycle tyre segments and will take place in Europe, North, Central and South America, Asia, the Pacific, Africa and the Near and Middle East.
Increases will mostly be between five and ten per cent, with approximately 15 per cent the maximum. According to Sumitomo Rubber, price rises are dependent upon tyre category, size and market. The manufacturer states that the new prices reflect raw material prices, including those for natural rubber and crude oil. These prices, Sumitomo adds, cannot be absorbed by its “own internal efforts.”