Tyre Prices Continue to Rise in Developing Economies

Next month will see the rapid upward trend of tyre prices in eastern nations continue, as manufacturers and dealers in the United Arab Emirates have agreed to a uniform rise of six per cent across the board.

Head of the Bridgestone Tyre Centre in Dubai, Abdul Hayee, told journalists that the price increase – to be implemented on 1 July – has been necessitated by raw material costs spiralling upwards, a statement confirmed by Babu Karunanandan of Abu Dhabi Tyres. He added that “the UAE is a place where automobiles are an integral part of life and motorists have no other option but to accept the revised prices.

Meanwhile, in India tyre companies are plumping for another hike only two months after the last increase in May. JK Tyre has told domestic journalists that it plans a growth in prices of around six per cent in August, further to the two increases of 2.5 per cent each in January and June. In addition Apollo Tyres have already raised prices by five per cent in the current month.