Bridgestone to Increase Prices in Japan
Bridgestone announced on November 22 that it will raise prices on March 1, 2008 for tyres, tubes and flaps sold in the Japanese replacement market, with prices for winter tyres to increase a month later. Specific price increases include 5.5 per cent for passenger car and light truck tyres, 7.0 per cent for truck and bus tyres, 10 per cent for construction vehicle tyres, 7.0 to 10.0 per cent for industrial vehicle tyres, 10.0 per cent for motorcycle bias tyres, 7.0 per cent for other kinds of tyres, and 10.0 per cent for tubes and flaps.
The continued high market price for natural rubber has been singled out by the tyre major as a contributing factor in its decision to increase domestic market prices, as is the price of petrochemical materials. Bridgestone reports it has endeavoured to offset the rises in raw material prices through continuous measures aimed at increasing productivity and enhancing efficiencies. However, it concedes that the rise in costs has proven too large and persistent for their effects to be entirely absorbed through internal measures.