From From Tire Review staff and wire reports
Bridgestone/Firestone North American Tire (BFNAT) and Bridgestone/Firestone Canada Inc. (BFCA) have jointly announced price increases on both companies’ tire lines.
The increases – affecting replacement, OE and export channels – will be effective Jan. 1. More specifically, prices will increase up to 5 percent on passenger and light truck tires, up to 7 percent on truck and bus tires and up to 10 percent or more on agricultural and OTR tires. The January price increases affect Bridgestone, Firestone and Dayton brands as well as associate and private brand tires.
The increases were necessary to address escalating raw materials costs, said Mark Emkes, CEO and chairman of Bridgestone Americas Holding Inc., the parent company of BFNT and BFCA, in a statement.
“From steel to petroleum to rubber chemicals, we have seen cost increases that simply cannot be offset by the increases in efficiencies and productivity that we have implemented at all levels of our company,” said Emkes.
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