Michelin to hike tyre prices by up to 8% in India_Michelin to hike tyre prices by up to 8% in India

Michelin to hike tyre prices by up to 8% in India

May 31, 2024

French tire giant Michelin said on Tuesday it will increase prices in India by 8 percent from June 18th. The company raised prices for passenger car tires, light trucks and motorcycles by 6 percent in Africa, India and the Middle East, and by 8 percent in Africa, India and the Middle East. The cost of tires for on-road and off-road commercial vehicles has declined by 10 percent due to rising raw material costs, global transportation costs and current market dynamics, the tire maker said in a statement.

The Michelin group added that the prices in India will rise at 6:00 p.m. effective July 18, and the Middle East price hike will be effective for July 1 since date and will apply to all Michelin group brands. Michelin said the price changes may vary depending on the specific products in each brand’s portfolio.

6 dealers, fleets, end-users and commercial equipment manufacturers will have more information before 6 the first week of the month.

Michelin services cars, trucks, buses, two-wheelers and off-road vehicles in India. The company produces truck/bus radial tires at its 290 acre plant in Tamil Nadu.

Michelin is headquartered in Clermont-Ferrand, France and has operations covering 170 people 1, 23, 6000 countries with employees.

In 2020, we operated 71 tire production facilities, producing approximately 170 million tires.

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