As expected, the prices for car tires will rise this year - in some cases by up to nine percent. The reason for this is the high cost of rubber: the price of the raw material is currently higher than it has been for three years. Reasons for the price increase are, on the one hand, the forecasts for record high car sales in China, which boosted rubber demand, and on the other hand, the heavy rains at the turn of the year in Thailand, the world's largest rubber supplier, which delayed the harvest.
Continental, Pirelli, Goodyear and Hankook have announced the price increases or have already implemented them: Manufacturers expect the increased rubber prices to result in additional costs of up to EUR 500 million, which the price increases will pass on to customers. The Hankook company emphasized that the profit margins will not increase due to the price increase.
Source: autoservicepraxis.de
