NASHVILLE, Tenn. (Dec. 3, 2009)—Bridgestone Americas Tire Operations L.L.C. will increase prices by up to 5 percent on certain Bridgestone, Firestone and associate brand passenger and light truck tires for both the original equipment and replacement markets on Jan. 1.
Michael Gorey, president of BATO's U.S. & Canada Consumer Tire unit, said “the steady increase in raw materials and energy costs made it necessary for us to take this action. While we are successfully implementing measures at all levels of our company to enhance our efficiencies and increase our productivity, those efforts are simply not enough to overcome the escalation of raw material costs.”
The company's action follows similar price hikes announced recently by several tire makers, including Yokohama Tire Corp., Continental Tire North America Inc., Goodyear and Nexen Tire America Inc.