Bridgestone announces price increases in the U.S. and Canada
Bridgestone Firestone North American Tire LLC (BFNT) and Bridgestone Firestone Canada Inc. (BFC) will begin phasing in price increases on Bridgestone, Firestone, Fuzion and associate brand consumer and commercial tire lines on Nov. 1. They will apply to tires sold through the replacement, original equipment and export channels.
Most of the increases will be up to 4%, although specific in-line adjustments in excess of 4% are possible.
"While we have successfully implemented a number of manufacturing efficiencies and productivity enhancements, the unprecedented on-going escalation in raw material costs -- especially those related to petroleum -- continue to strain our ability to offset these increases with countermeasures," says Asahiko "Duke" Nishiyama, vice chairman and president of Bridgestone Americas Holding Inc., parent company of BFNT and BFC.
"The record-breaking price of oil affects every aspect of our business, from the manufacture of our products through their delivery to our customers. As a result, we have no choice but to implement this price increase."