Bridgestone tires may see 8% hike
Apr 15, 2005 11:39 AM
Bridgestone and Firestone brand truck tires will go up in price once again. Increases will be up to 8% on passenger and light truck, truck and bus, and agricultural and off-the-road tires, and will affect the replacement, original equipment and export channels, said the tire maker. The price increases will be effective May 1 for truck and bus tires and June 1 for all other tire lines and channels.
"Our tire companies continue to face unprecedented escalating raw material costs, especially for commodities such as petroleum, steel, rubber chemicals, polymers and utilities,” said Mark Emkes, chairman & CEO of Bridgestone Americas Holding, Inc., parent company of Bridgestone/Firestone North American Tire LLC and Bridgestone/Firestone Canada, Inc. “Unfortunately, these cost increases simply cannot be offset by the enhanced efficiencies and increased productivity that we have implemented at all levels of our company.”
Last year, the tire company initiated a round of price hikes due to escalating costs.
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