BRUSSELS—Bridgestone Europe is increasing prices across its car, van and SUV tire ranges by an average of 3 percent. The price increases, which affect all brands as of June 1, are due to the significant raw material cost increases in the last 12 months, the tire maker said in a statement.
"While initial cost increases were partially covered by operational optimization and price increases earlier in the year, rising costs for high-value raw materials have necessitated this action," Bridgstone said.
Bridgestone added that it would continue to closely monitor raw material pricing to ensure they can develop and deliver innovative tires and related solutions.