Bridgestone Firestone North American Tire LLC (BFNT) is raising prices on its Bridgestone, Firestone, Fuzion and associate brand tire lines, effective May 1.
Prices will be hiked "generally up to 5% on passenger and light truck, truck and bus, and agricultural and off-the-road tires, with possible specific in-line adjustments in excess of 5%," say BFNT officials.
Increases will affect the replacement, original equipment and export channels.
"The continuing upward spiral of raw material costs makes this action necessary," says Asahiko "Duke" Nishiyama, BFNT's vice chairman and president.
"This unprecedented situation is simply not one that can be managed through the enhanced efficiencies and increased productivity that we are continually implementing at all levels of our company. As a result, we have no choice but to implement this price increase."
