Bridgestone, Michelin to increase commercial tire prices
Suppliers of commercial truck and trailer tires are notifying customers about coming price increases that could go well above the rate of inflation this year.
Bridgestone announced today that its commercial truck tires and Bandag retreads will cost up to 8% more in the U.S. and Canada as of April 1.
“This price adjustment is a necessary step as Bridgestone continues to manage increased business costs including escalating transportation and raw material costs that are forecast to continue into the second half of the year,” the company says in a related statement.
National account fleet customers, OEMs, and dealers will learn specific details by March 1.
Michelin North American warned customers about its own pending price increases earlier this month. Those will apply to commercial services, select commercial offers for fleet customers, select material handling products, and select wheels.
Those price increases will be effective March 1, although the size of the increases was not disclosed.
“Price changes vary by country across specific products and services based on the highly dynamic market conditions in the supported customer industries. Details will be presented directly to dealers and fleet customers with additional questions addressed directly through account managers,” Michelin says.