Nexen Tire Europe raises prices

Nexen Tire Europe is raising the prices of “all of the company’s brands in the replacement market”. The price increase is due to “the Ukraine-Russia conflict” and specifically “raw material prices such as carbon black, oil costs and freight and logistics costs”, which have all risen sharply, according to a Nexen statement issued today (13 April 2022).

This means prices for all of the company’s summer, winter and all-season tyres on the European market – including the United Kingdom and Turkey – will be increased. However, specific details of how much haven’t been release. The price increase takes effect on “all the goods delivered from 1st of May 2022”.

“Increased raw material costs and the sharp rise in logistics costs are forcing the tyre industry to raise prices,” explained DC Kim, Vice president of Europe sales and marketing, Nexen Tire Europe s.r.o.

“Through continuous efficiency improvements, Nexen Tire continues to strive globally to minimize the impact of rising costs on the prices of its tyres and to continue to offer its customers the best price/performance ratio in the market,” DC Kim concluded.