Raw material costs put tyre prices under pressure

Tyre manufacturer Bridgestone has become the latest producer to increase tyre prices to UK motorists more steeply that on the continent.

Blaming higher raw material and import costs, the world’s leading tyre maker is raising tyre prices across Europe for the second time in months.

UK drivers face price increases of between 8% and 12%, compared with the 5%-8% in the rest of Europe.

Bridgestone, which sells the most tyres globally, is second behind Michelin in Europe with about 12% of the market compared with Michelin’s 18%. Michelin has increased the price of its tyres in Europe by about 5% in recent weeks.

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