Bridgestone Firestone North American Tire has become the latest tire manufacturer to announce a price increase, with this week’s announcement of a price hike for its Bridgestone and Firestone brand tire lines, as well as all associate brand tires.
The announced increases — up to 8 percent on passenger and light truck, truck and bus, and agricultural and off-the-road tires — will affect the replacement, original equipment and export channels. The price increases are scheduled to begin phasing in March 1, BFNT said Jan. 28.
“The continuing unprecedented upward spiral of energy and raw material costs makes this action necessary,” says Asahiko “Duke” Nishiyama, vice chairman and president of Nashville, Tenn.-based BFNT. “This unrelenting escalation of costs is simply not a situation that can be managed through the enhanced efficiencies and increased productivity that we are continually implementing at all levels of our company. As a result, we have no choice but to implement this price increase.”
Other tire manufacturers that recently have announced price increases include: