The reporter recently learned from Bridgestone (China) Investment Co., Ltd. that since March 2008, the company has implemented price adjustments for its branded passenger car and truck/bus tires, with increases ranging between 3% and 5%. This move comes as part of a broader strategy to cope with rising production costs driven by global market fluctuations.
In recent years, natural rubber—the primary raw material used in tire manufacturing—has remained at relatively high levels globally. At the same time, oil prices have continued to climb, pushing up the costs of petrochemical-based materials such as synthetic rubber and carbon black. These factors have created significant pressure on tire manufacturers across the industry.
Every rise in oil prices directly affects tire production, not only through higher raw material costs but also in transportation and logistics. 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 sourcing. These efforts aim to enhance 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 increased by 20 percentage points. This shift has significantly helped offset a large portion of the transportation-related expenses, making the company more resilient in the face of economic uncertainties.
As global markets continue to evolve, Bridgestone’s strategic focus on localization and innovation is expected to play a key role in maintaining competitiveness and stability in the Chinese tire market.
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