BFNT will raise prices across-the-board
Bridgestone Firestone North American Tire LLC (BFNT) will raise prices on its Bridgestone, Firestone, Fuzion, Dayton, associate and private brand tire lines.
Passenger, light truck, truck, bus, farm and OTR tire prices will rise up to 4%, effective Sept. 1.
The increases will affect the replacement, original equipment and export channels, say BFNT officials.
"We are seeing an unprecedented combination of factors that simply cannot be managed through the enhanced efficiencies and increased productivity that we are continually implementing at all levels of our company," says Asahiko “Duke” Nishiyama, vice chairman and president of BFNT.
"With the cost of petroleum rising at unprecedented rates and natural rubber at record levels, we have no choice but to take this action."
Earlier today, July 28, Continental Tire North America Inc. (CTNA) announced that it will hike prices on its Continental, General, Semperit and private brand truck tires up to 5%, effective Aug. 1.
Earlier this week, Michelin Americas Small Tires revealed it will raise raise prices on all of its passenger and light truck replacement tires sold in the United States by 3%, starting Oct. 2.
Also earlier in the week, Goodyear Tire & Rubber Co. said it plans to raise the prices of its Goodyear, Dunlop and Kelly medium truck tires up to 5% in North America, effective Aug. 1.