Higher raw material prices are going to make tires more expensive. Major Japanese tire makers will raise the prices of their car and motorcycle tires by 7 to 8 percent from April.
The price of natural rubber has tripled in 3 years. The increase is due to rising demand in emerging nations such as China, the movement of speculative funds into the market, and abnormal weather conditions in Thailand, one of the world's main producers.
Japan's largest tire maker, Bridgestone, has decided to raise its prices for passenger car and motorcycle tires in Japan by an average of 8 percent from June.
Yokohama Rubber, Toyo Tire and Rubber, and Sumitomo Rubber Industries will raise car tire prices by an average of 7 percent starting in April.
Bridgestone President Shoshi Arakawa said he wants people to understand that the price increase is due to higher raw material prices, and the need to provide safe and high-performance products.
Major tire makers are developing ways to produce cheaper tires by using fewer raw materials. But they say that if the price of natural rubber keeps rising, they will have to consider further price increases.
Monday, February 21, 2011 05:58 +0900 (JST)