Bridgestone Follows Goodyear in Second Round of Tire Price Increases
Bridgestone Americas Tire Operations is increasing the prices of its commercial tires in North America.
The company says it will raise prices “up to 8%” on its commercial truck and bus tires, as well as on off-the-road tires. The increase will take effect on or before July 1, depending on business unit and product line.
This is the second price increase on Bridgestone products in 2017, resulting in a 16% increase. The company announced its initial round of price hikes in late January, and a few days later extended it to cover the entire Bridgestone portfolio.
Bridgestone follows Goodyear Tire & Rubber, which announced a second price increase of about 6% across all brands, which went into effect May 1. Combined with Goodyear’s first price increase, which went into effect Feb. 1, prices of the company’s products have risen 14% this year. The company said the increases reflected “rising raw material costs and the strong value of the Goodyear brand.”
Related: Goodyear’s Raw Material Costs Increase $300M in 3 Weeks
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