BFNT will raise prices up to 10%
Bridgestone Firestone North American Tire LLC (BFNT) and Bridgestone Canada Inc. will raise prices on their passenger, light truck, truck, bus, motorcycle, farm and OTR tires up to 10%, effective Sept. 1.
Increases will apply to the companies' Bridgestone, Firestone and associate brand tires at both the replacement and original equipment levels.
"As a company we are faced with a shortage of the basic, critical raw materials used to make our tires," says Asahiko "Duke" Nishiyama, vice chairman and president of Bridgestone Americas Holding Inc. "The result is a dramatic rise in prices for commodities such as butadiene, natural rubber and other materials.
"In addition, the continuing high prices for gasoline and diesel fuel affects every aspect of our business -- from manufacturing to distribution -- and makes this action necessary."