Continental To Raise Tyre Prices 3-8 per cent

Continental AG chief executive, Manfred Wennemer, plans to raise tyre prices between 3-8 per cent in the fourth quarter of this financial year, various news sources have reported. The increases “will take place in the last quarter of this year, most likely in November,” Wennemer told the magazine the German Autowoche magazine.

He also said that the price increases are likely to take place somewhat earlier in the US. “It depends upon the product and the market. The way things look now, the price increases are likely to be a bit less in Europe than in North America, where we really get hit because oil is traded in US dollars so we won’t get any benefit from the strong euro there,” Mr Wennemer told the AFX news agency.