Market and product

Bridgestone Bandag Tire Solutions (BBTS) has announced that it has raised prices on its Bridgestone brand radial truck and bus tyres up to 6% in the US market. The increase went into effect on 1 July 2010.

Kurt Danielson, vice president, sales and marketing for BBTS, noted the company "continues to look for ways to balance costs and continue to deliver a premium package of value to our dealers and fleet customers. Today, however, we have reached a point where we must pass along some of the increased costs that are outside of our control, including energy, fuel and raw materials."

The Bridgestone increase follows a number of similar price rises from competitors in recent months. Continental Tire the Americas activated a price increase of up to 6% on all of the company's Continental, General Tire and proprietary brand passenger, light truck and commercial tyres sold in the US as of 1 June, responding to the continuing rise in raw material costs, especially natural rubber. Goodyear raised prices on its commercial truck tyre brands in North America by up to 8% on 1 May 2010 and increased tread rubber prices by up to 7%. Michelin North America also raised commercial prices, specifically on replacement truck tyres and retreads sold in the US, by up to 7% on 1 May.

(Source: www.automotiveworld.com)