Brexit, Covid and shipping cost increases point to tyre price hikes in 2021
The coronavirus pandemic, Brexit and a shipping bottle neck are putting pressure on the tyre market that is likely to lead to price increases that benefit mid-range products (Photo: Lukas: Pexels)
After months of mounting pressure on UK ports, the automotive industry is bearing visible signs of strain. Specifically, Honda UK halted production at its Swindon factory in December 2020 because it couldn’t get the right parts in time to continue production. But the ramifications don’t end there. General UK tyre supply is likely to be impacted too. And the result of the Brexit and Covid market pressures as well as shipping cost increases are likely to result in tyre industry price hikes during 2021.
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