Bridgestone New Zealand Limited has announced a new round of price increases across its commercial and consumer tyre ranges in New Zealand.
Increases to the consumer tyre range will take effect on June 1, 2011. Increases to the commercial tyre and retread range will take effect on July 1, 2011.
Bridgestone and Firestone brand passenger tyres will experience price increases of up to 9 per cent, while associate brand passenger tyres will experience price increases of up to 16 per cent.
Light truck, truck, bus, tubes and retread prices will all experience price increases of up to 5 per cent.
Ken Oyama, Director – New Zealand Business commented: “This is the second price increase of the year for us as the raw material prices for tyres continue to keep their historically high level. We are taking pricing actions in stages, and future steps will become necessary should the current trend continue.”
The price of natural rubber has continued to increase at an unprecedented rate. In addition, the price of petrochemical-based materials such as synthetic rubber and carbon black remain at high levels.
Bridgestone makes every effort to absorb cost fluctuations through efficiencies; however, the widespread rise in the cost of raw materials makes these price adjustments necessary.