Bridgestone to Raise Japan Market Tyre Prices
As of September 1 prices for Bridgestone tyres, tubes and flaps sold in the Japan replacement market will increase, the company announced on June 26. The new pricing structure applies to both summer and winter tyres. Bridgestone adds that it will also ask original equipment manufacturers for significant increases in their tyre prices.
Specific replacement market price increases include five per cent for passenger car and light truck tyres, seven per cent for truck and bus tyres, per cent for OTR tyres, between seven and ten per cent for industrial vehicle tyres, three to ten per cent for motorcycle tyres, seven per cent for other kinds of tyres, and ten per cent for tubes and flaps.
Although Bridgestone raised prices in March this year (April for winter tyres) to mitigate the rising cost of raw materials, it comments that the price of natural rubber has continued to increase. In addition, the price of petrochemical-based materials such as synthetic rubber and carbon black remain at high levels, in-line with historic highs in the price of crude oil.
Bridgestone says it has endeavoured to mitigate the increases in raw material prices through measures aimed at increasing productivity and enhancing efficiencies. However, it adds the cost increases have proven too large and persistent to be absorbed entirely through internal measures.