Bridgestone Tyres has announced price increases on all of its tyres in all European markets. The UK will be most heavily affected, with price increases between 8 and 12 percent compared to 5 to 8 percent in the rest of Europe.
The increase is due to the rising prices of all raw materials, and the UK will be hardest hit due to the continued weakness of sterling. Gerry Duffy, vice president Sales & Marketing of Bridgestone Europe, explained the price rises, saying, “The recent increase in the cost of commodities such as oil, natural rubber, iron ore and others heavily affects the costs of almost all the raw materials we consume. As its financial impact is so huge and hard to offset only by our internal efforts, we have to recover some of those costs by this price increase.”