Nexen Tire Europe raises prices

Nexen Tire is raising prices across its entire product range, effective 1 February 2022. According to the company, “rising raw material prices as well as freight and logistics costs” are behind the price hike. No details of the percentage increase have yet been released.

Nexen’s price increase covers all of its summer, winter and all-season tyres across the European markets and applies to all its group brands. An official statement on the matter specified that the price increase will be applied in the UK and Turkey and Russia.

“The increased raw material costs and the sharp rise in logistics costs are forcing the tyre industry to raise its prices,” DC Kim, vice president of Europe sales and marketing, Nexen Tire Europe s.r.o. explained, adding: “Through continuous increases in efficiency, Nexen Tire continues to strive worldwide to minimize the effects of rising costs on the prices of its tyres and to keep offering its customers the best price/performance ratio on the market in future”.