Bridgestone Europe announces Q3 price rises
A further round of price increases will be implemented by Bridgestone Europe during the third quarter of 2011. The tyre maker states that, starting July 1, prices for truck and bus radials will rise by an average of 12 per cent, agricultural, off-road tyres and retreads by an average of eight per cent, while an increase averaging five per cent is planned for passenger car, 4×4, light commercial vehicle and motorcycle tyres.
“The current costs of raw materials such as natural rubber, oil derived materials and others are maintaining their recent historic high levels,” said Mac Ohashi, CEO and president of Bridgestone Europe. “We are carefully monitoring the material price trends and fluctuations. However, based on the 2011 year-to-date levels, even after the last round of price increases which took place in the second quarter, we still have a significant gap to cover. While we are continuously making every effort to absorb cost increases through efficiencies, we also appreciate the continued support and understanding of our customers as we remain committed to providing the highest quality products and deliver a premium package of value.”