NASHVILLE, Tenn. — Bridgestone Americas Inc.plans to increase prices for consumer and commercial tires sold in the U.S. and Canada in October and raised prices on Bandag-retread products on Sept. 1.
Bridgestone will increase prices across its portfolio of consumer and commercial tires sold in the U.S and Canada on Oct. 1, including increases of up to 8% on Bridgestone-, Firestone- and Fuzion-brand passenger and light truck tires; Bridgestone- and Firestone-brand truck and bus tires; Bridgestone- and Firestone-brand off-the-road (OTR) tires; and Firestone agricultural tires and tubes.
"Price adjustments will be made at the pattern and article levels and may vary based on channel," the company said.
Bridgestone called the increases "necessary" as the company navigates "current market dynamics." Members of Bridgestone's sales team are contacting customers directly to provide more detailed information about the changes, the company added.
Bridgestone said it is "committed to minimizing the impact of increased business costs on our customers and continues to look for new opportunities to engineer efficiency into the business."
On Sept. 1, Bridgestone raised prices by up to 10% for Bandag products including treads, cushion and ancillary items sold in the U.S. and Canada. The new pricing affects all orders, regardless of backorder status, the company said.
This will be the fourth time Bridgestone has raised prices on passenger/light truck tires this year. Most recently it raised prices by up to 8% on select Bridgestone, Firestone and Fuzion passenger and light truck tires July 1. The company increase prices on some commercial and Bandag products, as well.
On the commercial side, prior to the July increase, the tire maker increased prices on Firestone-brand truck and bus tires in the U.S. and Canada by up to 8% on May 1 and on Bridgestone-brand truck and bus radial tires and Bandag retreads in the U.S. and Canada by up to 8% on April 1.