3-5 per cent Conti Price Increase “Likely”

Continental AG is “likely” to raise its European tyre prices by 3-5 per cent in October in response to rising raw material costs, an unnamed source told Focus-Money magazine. The news follows a spring price rise that saw the manufacturer increase prices by between 3 and 5 per cent.

Continental AG chief financial officer Alan Hippe various news sources in early August that he expects raw materials costs and oil prices to impact the company by between 200 and 300 million euros in the second half of this year. At that time Hippe said further price rises could not be ruled out.

However a Continental Tyre spokesman at the company’s Hanover headquarters said he could not confirm or deny the reports. Instead he said that the current raw material prices pressures continue to put pressure on all tyre manufacturers, adding that the subject of prices rises is therefore often under discussion.