AKRON (Feb. 2, 2017) — Bridgestone Americas and Sumitomo Rubber North America Inc. (SRNA) are planning to raise prices in North America on their various brands by up to 8 and 5 percent, respectively, effective March 1.
Bridgestone Americas Tire Operations' increase applies to the company's range of passenger, light truck, truck/bus, OTR and agricultural tires and retread products and tubes as well.
The new pricing is in response to "rising raw material costs and other market dynamics" and will vary by business unit and product line; Bridgestone's sales and account teams will soon provide customers with further details.
SRNA said its price increase affects all Falken- and Ohtsu-brand passenger, light and medium truck tires by 5 percent on a weighted average.
The Rancho Cucamonga-based company, a subsidiary of Japan's Sumitomo Rubber Industries Ltd., cited rising raw material costs in the industry for the need to raise prices.
These latest announcements bring to six the number of companies that have announced price increases publicly for the first quarter. The others are: Carlstar Group, Dynamic Tire, Goodyear, Michelin North America Inc. and Yokohama Tire Corp.