Bridgestone, Firestone and Dayton tire prices will increase up to 5 percent, starting Jan. 1.
Bridgestone/Firestone North American Tire announced the “across the board” price increase Nov. 21. According to Mark Emkes, chairman of BFNT, the change in prices is the result of an increase in the cost of raw materials.
“In order to address and attempt to minimize the impact of these rising costs we have taken very strong measures in all of our facilities to increase efficiencies and productivity levels,” Emkes said. “Unfortunately, since the dramatic cost increases cannot be totally offset by these efforts, we are taking the action we have announced today.”
In 2001 Firestone suffered severe financial losses when the company recalled its tires that came standard on Ford Explorers.
The BFNT company specializes in tires for off-road construction and commercial vehicles, agricultural equipment and light truck and passenger vehicles.