Michelin to hike tyre prices in India by 8 per cent from March_Michelin to hike tyre prices in India by 8 per cent from March

Michelin to hike tyre prices in India by 8 per cent from March

May 31, 2024

Michelin agents serve all major market segments, including passenger cars and two-wheelers.

French tire giant Michelin on Tuesday said it will increase the prices of its tires in India by 8 percent from next month to offset rising investment costs.

Tire prices in Africa, India and the Middle East will rise by up to 8%, Michelin said in a statement.

The price adjustments address the issue of rising tire prices. Tire makers increase the cost of raw materials, particularly natural rubber costs, global transportation costs and other market factors.

“The price increase will take effect every month in March 2021 and will apply to all Michelin Group brands.” /p Michelin serves all major market segments across the country, including passenger cars, two-wheelers and commercial vehicles.

Headquartered in Clermont-Ferrand, France, Michelin employs more than 12,000 people, operates 69 tire manufacturing plants in 170 countries, and in 2019 produced about 200 million tires.

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