Nankang Announces 7% Price Hike

Nankang Rubber Tire Corp., Ltd will increase prices on all its Nankang branded product lines by up to 7 per cent, the company told Tyres & Accessories in a statement dated 20 October 2010. The price hike is scheduled to take effect 1 November 2010.

Explaining the move, the company management said: “The price hike is due to unprecedented increases in natural rubber, steel, carbon black, crude oil and logistics costs. In order to continue providing the highest quality products, we have to make this sensible decision and highly appreciate the continued support of our dealers.”

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