Bridgestone India Raises Output, Implements 3.5% Price Hike

Bridgestone has said that it will produce 1,500 more tyres per day and raise the price of its tyres by 3.5 per cent in India, according to a newswire issued by Dow Jones. The rise comes on the back of increased raw materials prices, Bridgestone India general manager of sales and marketing, Vaibhav Saraf told the assembled throng at a news conference, Dow Jones NewsPlus reports.

The rise in output will be achieved at the company’s Indore plant to the north west of the country’s centre. It currently produces 13,500 tyres on a daily basis, by Saraf said that number would rise to 15,000.

The 3.5 per cent price hike mirrors the steps taken by fellow players on the Indian market last week. Apollo Tyres, JK Tyre, CEAT and MRF all announced hikes at around the same level as Bridgestone.

The company has recently committed to building a new £357 million passenger car and truck and bus radial tyre plant in Chakan, Maharashtra to supply increased demand in the Indian market. Dow Jones suggests PCR tyres will be produced there by January 2013 and TBR tyres from August 2013.