Bridgestone/Firestone will raise prices June 1
Bridgestone/Firestone North American Tire LLC (BFNT) and Bridgestone/Firestone Canada Inc. will raise prices "across the board" effective June 1.
The companies will increase prices in the U.S. and Canada up to 5% on all their replacement and original equipment tires. That includes associate and private brand tires.
The price of some sizes of off-the-road tires may be increased by up to 8%.
"We continue to be faced with a continuing escalation of raw material costs," says Yuji Tomiyasu, president of BFNT. "While we have taken many affirmative steps in our plants and in our processes to address and attempt to minimize the impact of these rising costs, we have been unable to offset them entirely, even with our increases in efficiencies and productivity."
Bridgestone/Firestone is the latest domestic tire manufacturer to announce a price increase effective June 1.
Pirelli Tire North America is raising prices an average of 3% across the company's branded and manufactured passenger and light truck tire lines.
Continental Tire North America Inc. will hike prices on its Continental, General, Semperit and private brand consumer tires from 3% to 5%. It also will raise prices on its medium truck and OTR tires from 2% to 5%.
Cooper Tire & Rubber Co. will raise prices on its major, associate and private label tires by up to 5%, depending on product line.
Toyo Tire (U.S.A.) Corp. will increase prices on its consumer and commercial tires up to 4%.
Yokohama Tire Corp. will boost consumer tire prices by 2% to 5%, while increasing its commercial tire prices by 2% to 4%. Yokohama's OTR tire prices will jump 2% to 3%
Two other companies, Goodyear Tire & Rubber Co. and Michelin North America Inc., also announced price increases recently.
Michelin will boost prices on its MAST (Michelin Americas Small Tires) and private brand consumer tire offerings by an average of 3% on July 5.
Goodyear will implement price increases of at least 2% on all its tire lines -- including commercial tires -- on May 1.