Three tire makers sent out announcements that they were increasing prices on truck tires effective Sept. 1.
Bridgestone Firestone North American Tire and Bridgestone Firestone Canada announced price increases on the companies' Bridgestone and Firestone brand tire lines, as well as all associate brand tires. This affects passenger and light truck, truck and bus, motorcycle and agricultural and off-the-road tires, will affect the replacement, original equipment and export channels.
"As a company we are faced with a shortage of the basic, critical raw materials used to make our tires," said Asahiko "Duke" Nishiyama, vice chairman and president of Bridgestone Americas Holding, parent company of BFNT and BFCA. "The result is a dramatic rise in prices for commodities such as butadiene, natural rubber and other materials. In addition, the continuing high prices for gasoline and diesel fuel affects every aspect of our business - from manufacturing to distribution - and makes this action necessary."
Yokohama will increase prices on medium-truck and light truck commercial tires by up to 6 percent, effective Sept. 1. The announcement was made by Jim MacMaster, Yokohama executive vice president, Business Division, who added there will be in-line adjustments, as well, which will be announced at a later date.
"We are doing our best to contain costs - through efficient operations and by using the latest manufacturing technologies," said MacMaster. "However, raw materials, energy and transportation costs continue to soar and our pricing, unfortunately, must reflect these record-high costs. We remain committed as always though, in bringing the best products to market with the most competitive prices."
Kumho Tire USA will increase prices up to 10 percent, with additional in line adjustments, on passenger, light truck and truck and bus tires effective Sept. 1.
"Dramatic increases in the cost of raw materials and transportation necessitate this action," adds Rick Brennan, vice president marketing, Kumho Tire USA. Kumho Tire USA last raised prices in May 2008.
Bridgestone Firestone North American Tire and Bridgestone Firestone Canada announced price increases on the companies' Bridgestone and Firestone brand tire lines, as well as all associate brand tires. This affects passenger and light truck, truck and bus, motorcycle and agricultural and off-the-road tires, will affect the replacement, original equipment and export channels.
"As a company we are faced with a shortage of the basic, critical raw materials used to make our tires," said Asahiko "Duke" Nishiyama, vice chairman and president of Bridgestone Americas Holding, parent company of BFNT and BFCA. "The result is a dramatic rise in prices for commodities such as butadiene, natural rubber and other materials. In addition, the continuing high prices for gasoline and diesel fuel affects every aspect of our business - from manufacturing to distribution - and makes this action necessary."
Yokohama will increase prices on medium-truck and light truck commercial tires by up to 6 percent, effective Sept. 1. The announcement was made by Jim MacMaster, Yokohama executive vice president, Business Division, who added there will be in-line adjustments, as well, which will be announced at a later date.
"We are doing our best to contain costs - through efficient operations and by using the latest manufacturing technologies," said MacMaster. "However, raw materials, energy and transportation costs continue to soar and our pricing, unfortunately, must reflect these record-high costs. We remain committed as always though, in bringing the best products to market with the most competitive prices."
Kumho Tire USA will increase prices up to 10 percent, with additional in line adjustments, on passenger, light truck and truck and bus tires effective Sept. 1.
"Dramatic increases in the cost of raw materials and transportation necessitate this action," adds Rick Brennan, vice president marketing, Kumho Tire USA. Kumho Tire USA last raised prices in May 2008.
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