Ceat Considering 3-5% Price Increases

Ceat managing director Paras K Chowdhary has stated the Indian manufacturer will have to increase tyre prices by up to five per cent in October if rubber prices, which climbed 10 to 15 per cent in the last quarter, remain high. In a video interview with CNBC-TV18, Chowdhary said “if Indian rubber prices don’t come down by September end then I don’t think tyre industry has a choice, we will have to look for price increases to protect our margins…. we are okay till about September end but between 1st October and 1st November if rubber prices do not fall then we will have to look for a price increase of anything between three to five per cent.”