As crude oil prices continue to remain high, tire manufacturers are making a series of moves to decide to raise the price of their products for the second time.
Bridgestone, the largest of these, will raise the shipping price of most products such as summer and winter tires for passenger cars from September to dealers by 3% to 8%.
The company also raised prices in April, which means that it is the first time in 14 years since 2008 that the shipping price has been raised twice a year.
In addition, Sumitomo Rubber Industries will raise the shipping price of products by up to 8% as the second price increase from September and Yokohama Rubber and Japan Michelin Tire from October.
In addition, Toyo Tires will raise the price by up to 10% from January next year, following January.
Reasons: Crude oil prices have remained high against the backdrop of Russia's military invasion of Ukraine, prices of naphtha, which is a raw material for synthetic rubber, have soared, and energy prices for production have also risen. It is explained that it is difficult to absorb all the costs just by itself.