TOKYO — Bridgestone will end production and sales of tires for commercial vehicles in China, the Japanese company said Tuesday, focusing instead on high-performance tires for passenger vehicles, one of its specialties.
Subsidiary Bridgestone (China) Investment will stop selling truck and bus tires in China within the first half of this year, according to the statement. The unit that had made the tires, Bridgestone (Shenyang) Tire, shut down production in January.
The move, part of a broader restructuring initiative aimed at boosting Bridgestone’s earning power, comes amid intense price competition with local players in the segment.
The Chinese market accounts for less than 3% of Bridgestone’s overall sales. “The impact of this exit on consolidated earnings will be minimal,” a public relations representative said.