The reporter recently learned from Bridgestone (China) Investment Co., Ltd. that since March 2008, the company has implemented price adjustments for its branded tires used in passenger cars and trucks, with increases ranging from 3% to 5%. This move comes as part of a broader strategy to manage rising operational costs amid volatile global markets.
In recent years, natural rubber—the primary raw material for tire production—has remained at relatively high levels globally. The ongoing rise in oil prices has also led to increased costs for petrochemical-based materials such as synthetic rubber and carbon black, further pressuring manufacturers.
Every spike in oil prices directly affects tire production, not only through higher raw material costs but also through increased transportation expenses. According to Ni Baitao, Director of the Public Communication Division at Bridgestone (China) Investment Co., Ltd., the company has been actively addressing these challenges by accelerating local R&D initiatives and increasing the localization of raw material procurement. These efforts aim to improve productivity and reduce dependency on imported materials, thereby mitigating the impact of rising costs.
Data from Bridgestone China shows that since 2004, the localization rate of raw material procurement has risen by 20 percentage points. This shift has significantly reduced transportation-related costs, helping the company maintain stability in an increasingly unpredictable market environment.
As the global supply chain continues to face uncertainties, Bridgestone's strategic focus on localization and innovation is expected to play a key role in sustaining its competitive edge in the Chinese market.
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