NASHVILLE, Tenn. (May 25, 2001)–Bridgestone/Firestone Inc. has joined two other tire manufacturers in announcing tire price hikes.
The Nashville-based tire maker said it will increase the price of its Bridgestone- and Firestone-brand medium truck and bus radial tires 4 percent effective July 1. Prices of Dayton-brand medium truck and bus tires will get a 3-percent increase.
The company said the increases are in response to higher energy and raw material costs.
Michelin North America and Goodyear also have recently announced tire price hikes.
Michelin said it is increasing prices by up to 5 percent on all brands of Michelin Americas Small Tires (MAST) passenger and light truck tires, effective Aug. 1. The increase is necessary due to the continuing increase in raw material, manufacturing and logistics costs, the company said.
Goodyear, meanwhile, said it is raising prices in the North America replacement market by 4 percent on Goodyear and Dunlop brands, 3 percent on Kelly and private labels and 5 percent on Aquatred and bias-ply light truck tires, effective June. 15.
The company said the increases are being sought to offset higher natural gas and fuel oil costs and higher labor costs related to the pattern contract agreement established by Bridgestone/Firestone last year.