Tyre prices up again

Bridgestone have announced a price hike – effective August 1

Tyre prices up again
Tyre prices up again

June 23, 2011

Tyre maker Bridgestone Australia has announced a further price increase as of August 1.

The company says the increase is ‘unavoidable’ and applies to all tyre products –passenger, light truck, truck, agricultural and industrial – tubes and retreads by an average of five percent.

"The current costs of raw materials such as natural rubber, oil derived materials and others are maintaining their recent historic high levels," Bridgestone Group Chairman and Managing Director Nobuyuki Mieno says.

"We are carefully monitoring the material price trends and fluctuations," he adds.

"However, based on the 2011 year-to-date levels, even after the last price increase and with the current high Australian dollar, we still have a significant gap to cover," says Mieno.

"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."

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