Yoke Haoma, Aeolus Tire and Michelin have adjusted prices one after another

Recently, the tire industry has ushered in a wave of price increases. Yokohama, Aeolus Tire and internationally renowned tire manufacturer Michelin have successively announced price increases to cope with rising cost pressures.

Yokohama issued an announcement earlier this month, predicting that starting from May 1, its passenger car products (excluding winter tires) will undergo price adjustments, and the increase is expected to be between 3% and 6%. The company said that the adjustment was based on rising raw material prices and increased production costs. In order to ensure product quality and continuous service, price increases had to be taken.

According to the Carbon Black Industry Network, Fengshen Tire also followed closely and issued a price increase forecast. Affected by multiple factors such as rising raw material prices, tire manufacturing costs continue to rise. In order to ensure the company's stable operation and sustainable development, Aeolus Tire decided to increase the price of its TBR products by 2%-3% starting from April 20. At the same time, the company also stated that in view of the continuous fluctuations in raw material prices, further price adjustments or policy changes will not be ruled out in the future.

International tire giant Michelin also recently announced a price increase plan. Starting from April 1, 2024, Michelin will adjust the price of its motorcycle tires City Grip 2 series and City Extra series, with an average increase of 4%. Michelin mentioned in its statement that in the face of continued cost rising pressure, the company was still unable to fully absorb these increased costs after trying various cost control methods, so it made the decision to raise prices to ensure that it can continue to provide customers and customers with quality products and services.

With the continuous changes in the raw material market and the cost considerations of tire manufacturers, it is expected that tire prices will remain volatile for some time to come.