Bridgestone European Prices to Increase
Bridgestone Europe NV/SA has announced price increases on all of its tyre brands and categories. The price rise will apply in all European countries, however the UK and Northern Ireland will be affected more than those countries in the euro zone. Increases here will be in the range of between 8 and 12 per cent, as opposed to between 5 and 8 per cent for most of Europe. The new prices will take effect in each market in coming few months.
“Even after we increased our prices earlier this year, the raw material prices continue to increase beyond our expectation,” commented According to Gerry Duffy, vice president Sales & Marketing of Bridgestone Europe. “The recent increase in the cost of commodities such as oil, natural rubber, iron ore and others heavily affects the costs of almost all the raw materials we consume. As its financial impact is so huge and hard to offset only by our internal efforts, we have to recover some of those costs by this price increase.”