The price of summer tyres for passenger and light trucks will increase by an average of 5%, while truck and bus summer tyres will increase by an average of 7%, according to a Michelin statement. The changes will take effect on March 1. The prices for industrial tyres will increase by 8%, with agricultural tyre prices rising 3%. (Tyres & Accessories/Staffordshire, U.K.)
Michelin is set to raise prices in Japan across a range of products due to the rising cost of raw materials.