BATO to increase prices up to 8%
Bridgestone Americas Tire Operations (BATO) today announced price increases in the United States across several of its divisions, including consumer replacement; consumer original equipment; truck and bus; agricultural; and off-road.
Beginning today (Nov. 1), Bridgestone, Firestone and associate brand passenger, light truck, medium truck, bus, agricultural and off-road tire prices will increase up to 8%.
“We continue to face a number of market pressures including increased costs for energy, transportation and raw materials, resulting in the need for this price increase,” says Eduardo Minardi, BATO chairman, CEO and president. “While we are always working to balance costs and deliver a premium package of value to our customers, we have reached a point where we must respond.”
BATO is the latest tire manufacturer to announce price increases that go into effect on Nov. 1. Also starting today:
* Toyo Tire U.S.A. Corp. passenger, light truck and commercial truck tires prices will increase up to 6%.
* Falken Tire Corp. passenger, light truck and medium truck tire prices will be hiked up to 8%.
* Kumho Tire U.S.A. Inc. consumer and medium truck tire prices will increase up to 6.5%.
* Hankook Tire America Corp. consumer and commercial tire prices will be raised up to 6.5%.
* Cooper Tire & Rubber Co.’s consumer tire prices in North America will increase as much as 6.5%.
Yokohama Tire Corp. will raise its consumer tire prices up to 8%, effective Dec. 1, 2010. In-line adjustments will be announced later. Pirelli Tire North America also will hike its consumer tire prices in the U.S. up to 7%, effective Dec. 1.
Last month, Goodyear Tire & Rubber Co. raised its medium truck tires prices up to 8%, and American Pacific Industries Inc. raised prices up to 10% on seven imported tire brands.