Cost of natural rubber drives price of tyres up.
Bridgestone recently announced that from April 1st, 2010, the price of tyres will increase by between three and five percent.
The tyre manufacturer said the price hike, which will vary from category to category, is as a direct result of the continuously escalating cost of raw materials, particularly natural rubber.
According to Gerry Duffy, Vice President Sales and Marketing of Bridgestone Europe, the move is regrettable, but necessary.
"While we are making intense efforts to mitigate the impact of raw material cost increases, regrettably we have no option but to reflect a portion of the cost increase in tyre price."