Michelin hikes prices by up to 12pc
Dubai, March 2, 2011
Michelin Africa, India and Middle-East (AIM) is increasing the prices of all product ranges by upto 12 per cent, in the face of continued and accelerating escalation of raw material costs.
The price hikes are as follows:
- All motorcycle and scooter tyres will increase by up to 8 per cent
- All truck tyres, accessories, tubes and flaps and treads will increase by up to 12 per cent
- All passenger car tyres will increase by up to 8 per cent
- All agricultural tyres, backhoe and skid-steer tyres will increase by up to 7.5 per cent
- All earthmover, TP and industrial tyres as well as accessories will increase by an average of 6 per cent
The price increases reflect the raw material escalations up to January of this year only, and will take effect on April 1.
Price hikes take effect on March 1 in Saudi Arabia for logistics reasons, a statement said.-TradeArabia News Service