Could Lower Tire Prices Be on the Way?
2012-8-12 0:00:00Font Size：Big Medium Small
Bloomberg News reported that Bridgestone Corp. may look to lower prices on some of its tire products in the second half of 2012 due to expected lower raw materials and production costs.
Those price cuts could include consumer tire lines in the Americas and Europe, the report said.
“We may adjust the price of some of our products to some extent,” Bridgestone CFO Akihiro Eto said in Tokyo yesterday.
Natural rubber prices have fallen 39% over the last year due to reduced demand from China and Europe, which is suffering a serious economic downturn. Hangzhou Zhongce Rubber Co., according to Bloomberg, has stated that it expects China’s tire demand to fall 5% vs. last year.
Tirereview
- Tireworld Insight: Domestic tire makers eye overseas expansion
- Tireworld Insight: Price disparity severe between China's rubber exports and imports
- Tireworld Insight: China tire exports dependent on US market performance
- Tireworld Insight: SHFE rubber expected to move in tight range in short-term
- Tireworld Insight: Rubber futures to test near-term resistance at 15,000 yuan/tonne
- Tireworld Insight: China’s tire industry on track of rapid growth
