Bridgestone Europe announces further price increases
Prices for all Bridgestone consumer, commercial and specialty tyres are set to increase by an average of seven per cent in European markets. The new prices take effect with the start of the second financial quarter in April and exact increases will vary between product categories, Bridgestone Europe reports.
“This is the second price increase of the year for us in Europe, as the raw material prices for tyres continue to keep their historically high level,” commented Bridgestone Europe CEO and president Mac Ohashi. “We are taking pricing actions in stages, and future steps will become necessary should the current trend continue.
“Aftermarket demand in Europe is steadily recovering and export-driven OE demand from car and truck manufacturers is very strong”, Ohashi continued. “Whilst we continue to maintain maximum production at our factories, we are unlikely to satisfy all the requirements in the short term. Considering these situations, and to ascertain our targets are achieved, we must continue focusing on the priorities.”
Bridgestone last announced price increases on January 10, 2011. At this time the tyre maker reported it would roll out adjusted pricing on all consumer, commercial, and specialty tyres plus retreads throughout the first quarter. The previous price rise averaged six per cent; at the time Ohashi correctly observed “we have not seen an end to the escalation of raw materials prices.”