Prices on the Bridgestone and Firestone brand tire lines, as well as all associate brand tires, are scheduled to go up in June.
The announced increases, up to 10 percent, on passenger and light truck, truck and bus, and agricultural and off-the-road tires, will affect the replacement, original equipment and export channels. The price increases are scheduled to begin June 1.
“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,” said Asahiko “Duke” Nishiyama, vice chairman and president of Bridgestone Americas Holding, Inc.
“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.”
Editor’s note: This story originally posted incorrectly stating Goodyear had announced a price increase.