BFNT, Bridgestone Canada will raise prices
Bridgestone Firestone North American Tire LLC (BFNT) and Bridgestone Canada Inc. (BFCA) will raise their passenger, light truck, truck, bus, farm and OTR tire prices up to 10% on June 1.
Hikes will affect the companies' replacement, original equipment and export channels.
"The continuing record-breaking upward spiral of fuel, energy and raw material costs affects every aspect of our business -- from manufacturing to distribution -- and makes this action necessary,” says Asahiko “Duke” Nishiyama, vice chairman and president of Bridgestone Americas Holding, Inc., parent company of BFNT and BFCA.
"Although we are continually working to enhance efficiencies and increase productivity in all areas of our business, these efforts can not fully mitigate this unprecedented escalation of costs. As a result, we have no choice but to implement this price increase."