Bridgestone Corp. will raise passenger and light truck tire prices by 5.5% and medium truck and bus tire prices by 7% on March 1. Price hikes apply to Japan only.
Also on the same day, Bridgestone will hike its construction vehicle and industrial tire prices in Japan by 10%.
"The market price for natural rubber, a key material in tires, continues to be high, while the price of petrochemical materials such as synthetic rubber and carbon black remain at high levels in line with an historic high in the price of crude oil," say Bridgestone officials.
