Bridgestone will raise its tyre prices to cover the rising costs of raw materials
January 27, 2011
Tyre company Bridgestone will raise its tyre prices in Australia from March 1.
The three percent average increase applies to all tyre products, including passenger, truck, agricultural and industrial tubes and retreads.
Group Chairman and Managing Director Mr Nobuyuki Mieno says the price of natural rubber continues to increase at an unprecedented rate.
He also says the price of petrochemical-based materials such as synthetic rubber and carbon black remains at high levels.
“Bridgestone has implemented internal measures to offset rising raw material prices through increased productivity and enhanced manufacturing efficiencies,” Mieno says.
“Raw material price increases have risen to a level that cannot be overcome entirely through internal measures.”
He says Bridgestone had absorbed the impact of the continued rise in raw material prices for as long as possible.
“In other countries, tyre prices have already increased several times in the past 12 months,” Mieno says.