Michelin To Increase Replacement Tyre Prices in Japan
In the second half of 2008 Nihon Michelin Tire Co., Ltd will raise the delivery prices for its replacement market products in Japan. Michelin states this series of price increases is unavoidable: “In the last year or so the industry has registered a continued escalation in the prices of raw materials. Continued efforts to internally compensate for this situation are not enough, obliging us to partially reflect this state of affairs in our prices,” the company said in a press release.
Prices for passenger car and light truck tyres will increase, as of September 1, by an average of 4.5 per cent. Motorcycle tyre prices will rise by an average of 7.5 per cent, as of October 1, and agricultural tyres by an average of 6.0 per cent, also from October 1.