Tyre prices to rise

BRIDGESTONE Australia last week took the unusual step of announcing price rises of up to five per cent, effective nationally from August 1, for most tyre products, tubes, retreads and services, citing escalating raw material costs.

“We have seen very significant continued upward price pressure on raw materials such as oil, natural rubber, synthetic rubber, steel and carbon black in combination with increased energy and transportation costs,” said Bridgestone Australia chairman and CEO Mac Ohashi.

“This price increase will only partially offset the impact of these costs. However, we need to move to protect our Australian manufacturing and retail operations and the people who rely on them for their livelihoods.

“We believe this is not only necessary but prudent and responsible and a demonstration of our continuing commitment to providing the market with the very best products and services.”