Japanese Consumers Facing Fresh Bridgestone Price Rise
On February 9 Bridgestone Corporation announced an additional price increase for the tyres, tubes and flaps it sells in the Japanese replacement market. These increases will take effect on June 1 and come on top of the December 2010 announced truck and bus tyre price rise to be implemented on March 1, 2011. The latest increases apply to both summer and winter tyres and are eight per cent for passenger car, light truck and motorcycle tyres, 15 per cent for OTR tyres for construction and mining vehicles, ten per cent for other kinds of tyres (including those used on industrial vehicles and agricultural equipment) and ten per cent for tubes and flaps.
In announcing the June 2011 price hikes, Bridgestone commented that it “makes every effort” to absorb cost fluctuations through efficiencies, yet the “unprecedented” rate of natural rubber price rises and increases in petrochemical based materials “makes these price adjustments necessary.”