Bridgestone Firestone North American Tire and Bridgestone Firestone Canada Inc. have announced price increases on the companies’ Bridgestone and Firestone brand tire lines, as well as all associate brand tires. The announced increases – up to 10 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 June 1.
“The continuing record-breaking upward spiral of fuel, energy and raw material costs affects every aspect of our business – from manufacturing to distribution – and makes this action necessary,” says Asahiko “Duke” Nishiyama, vice chairman and president of Bridgestone Americas Holding Inc., parent company of BFNT and BFCA. “Although we are continually working to enhance efficiencies and increase productivity in all areas of our business, these efforts cannot fully mitigate this unprecedented escalation of costs. As a result, we have no choice but to implement this price increase.”