Home AUTOPARTS Michelin to hike tyre prices by 4% from Sept, Auto News, ET...

Michelin to hike tyre prices by 4% from Sept, Auto News, ET Auto

Chennai: Tyre maker Michelin has announced that it will take a small price mark up of 2%-4% in the Africa, India & Middle East region. The company has announced it will increase its tyre prices across the commercial light truck, truck and bus segments.

It plans a hike of 2.5% in the passenger car segment as well. The highest hike, however, will be in the SUV segment — up to 4%.

The company announced that the price revision “addresses an increase in the cost of raw materials, such as natural rubber, and other market factors,” and will be effective September 2019. It will be applicable to all Michelin Group brands.

After two years of staying soft, natural rubber prices are moving northwards again, by 23% in CY 2019.

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