The price increase will be in the range of 5% to 10%, depending on tyre categories, tyre sizes and markets.
“The price increase is due to the price surge of tyre materials in accordance with high prices of natural rubber and crude oil having continued since last year, which is beyond our efforts to absorb internally,” an official statement said. This is the company’s second price increase this year and follows a 3%-5% price rise in the first half of this year.