Bridgestone recently announced that due to the increase in logistics-related expenses, the company decided to increase the price of tires for sale in the Japanese domestic market from August 1.
The company said the average price increase was 3%. The price increase targets all types of tires except agricultural tires.
The report said that the reason for this price increase is the increase in logistics costs due to lack of labor, and this trend will continue in the future. In this regard, the company said that it has taken measures to reduce the cost of logistics and other costs, but it is difficult to resolve this problem solely by the company's own efforts, and the price increase is helpless.
The price increase of the company's domestic tires is the first time since September 2017, the price has been raised for the first time after two years. As the largest domestic tire manufacturer in Japan, the company's decision to raise prices will trigger the linkage of other tire manufacturers, which has attracted much attention.
When the price of tires increased in 2017, there was a 30% increase in tire sales due to the price increase before the price increase, and the tire sales after the price increase showed a sudden cold.
Bridgestone's price increase averaged 3%, which was less than the 6% increase in the last price increase. However, in October this year, Japan will implement a consumption tax increase, so it will definitely affect the sales of tires.