Michelin to hike tyre prices

This increase in prices is effective June 18 for India and July 1 for the Middle East region and is applicable to all Michelin group brands.

New Delhi: French tyre major Michelin on Tuesday said it will increase prices by up to 8 per cent in India with effect from June 18.

The company will hike prices in the Africa, India and Middle East region by up to 6 per cent on passenger car tyres, light truck and motorcycle replacement tyres as well as up to 8 per cent on both on-and off-road commercial vehicle tyres due to rise in raw material cost, global transportation cost and prevailing market dynamics, the tyre maker said in a statement.

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This increase in prices is effective June 18 for India and July 1 for the Middle East region and is applicable to all Michelin group brands, it added.

Michelin caters to passenger cars, trucks, buses, two-wheelers and off the road vehicles in India. The company has a 290-acre plant in Tamil Nadu where it produces radial truck/bus tyres.

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