Michelin Announces Truck Tyre Price Increases
Michelin has announced a price increase of up to 4 per cent for its truck tyres in the US. The increase will take effect on 1 June. In addition from 1 July prices of agricultural tyres sold under the Michelin, BFGoodrich, Kleber and Taurus brands will rise by an average of 3 per cent in the US and Canada, the group said.
Referring to the truck tyre price increase, Deutsche Bank analysts said: “We believe that only a small portion will stick. However, this small portion will go directly to the bottom line since natural rubber price (primary used in truck tyres) is now more or less stable since the beginning of February. So far the reporting season of the industry has highlighted a very strong price/mix effect.”