Bridgestone Complains of Import Squeeze - Tire Review Magazine

Bridgestone Complains of Import Squeeze

(Akron/Tire Review) Bridgestone Australia Ltd. officials are concerned that so-called “cheap” imported tires are cutting into the profitability of “locally-made tires.”

At the same time, reports said, the company reported a 10% increase in net profit for 2005 vs. 2004, even though its net sales and pre-tax profits were off.

Bridgestone Australia officials said the drop in pre-tax profit was primarily caused by rising raw material costs, which the company was only able to partially offset with price increases. "Sales of locally-made tires remain under intense pressure from imports and the ability to lift prices to cover increasing costs has been constrained," the company said.

"Sales of Bridgestone branded products remained strong; however, they are under increasing pressure from the wide range of cheap imports becoming available in the Australian market,” the company said. “The ability to lift prices to cover increasing costs has been constrained."

Bridgestone Australia’s 2005 revenue dropped 3% to $520.36 million AU.

You May Also Like

Nokian Tyres receives A- sustainability score from CDP

This is the fourth consecutive year that Nokian Tyres has received an A- for its climate work.

Nokian-score-low-emissions-stock

Nokian Tyres scored an A- from CDP for its actions aimed at reducing greenhouse gas emissions and mitigating climate change-related risks, the company said. Scores A and A- represent leadership level. This is the fourth consecutive year that Nokian Tyres has received an A- for its climate work.

How tire traction and tread design affect tire performance

Even though tires might all look the same to some customers, you should inform them how tread design works to improve their experience.

TR-Continental-treaddesign
Club 3633 nominations for 2024 are open

Club 3633 is an exclusive group of industry professionals that celebrates the next generation of innovators in the tire industry.

club3633-nominations-1400
Straightaway Tire brings on industry vets to promote training initiatives

John Wafler and Jason Servidio will drive platform-wide internal training initiatives for Straightaway Tire.

Straightaway-Tire-stock
TyreXpo Asia 2024 confirmed for Bangkok

The event is expected to attract over 4,000 international attendees from around 60 countries.

Other Posts

Hamaton to relocate its European distribution hub in Germany

The new location, still located on the Siemensring business park, will provide increased storage space and more.

Hamaton-New-Unit-Plan
Hankook Tire’s Rob Williams on leveraging momentum for global expansion

The company’s North America president tells all regarding product philosophy, dealer growth strategy, and what responding to the tire market means in 2024.

Hankook-Dealer-Meeting-Rob-Williams-QA-1400
Bill Ziegler, Ziegler Tire president, dies

Bill spent 48 years with Ziegler Tire, most recently as president.

Bill-Ziegler-600
Pirelli marks 50 million tires manufactured at Mexico plant

Since 2012, Pirelli has invested over $900 million in the plant.

Pirelli-mexico-factory-milestone