Head of the Bridgestone Tyre Centre in Dubai, Abdul Hayee, told journalists that the price increase to be implemented on July 1 has been necessitated by raw material costs spiralling upwards, a statement confirmed by Babu Karunanandan of Abu Dhabi Tyres. He added that “the UAE is a place where automobiles are an integral part of life and motorists have no other option but to accept the revised prices.
Meanwhile, in India tyre companies are plumping for another hike only two months after the last increase in May. JK Tyre has told domestic journalists that it plans a growth in prices of around 6% in August, further to the two increases of 2.5% each in January and June. In addition Apollo Tyres has already raised prices by 5% in the current month. (Tyres & Accessories/Staffordshire, U.K.)