Michelin Announces Upto 8 Percent Price Hike on Its Products in Africa India and Middle East Regions

Michelin in the Africa India & Middle East region will increase its tyre prices by up to 6 percent on passenger car, light truck and motorcycle replacement tyres as well as up to 8% on both on- and off-road commercial tyres due to increase of raw material cost, global transportation cost and prevailing market dynamics.

This increase is effective 18th June for India and 1st July for Middle East region and is applicable to all MICHELIN Group brands.

Price changes may vary across specific products within each brand portfolio. Details will be presented to dealers, fleets, end-users and commercial equipment manufacturers by June 1st week.

Also Watch:

In February this year, the company had announced that all of its tyres will be made from sustainable materials by 2050. To achieve this, Michelin plans to draw on the expertise of its R&D department, while also forming partnerships with innovative startups. The idea of sustainable tyres has been gaining ground for several years at Michelin, with projects such as the firm’s VISION concept tyre, an airless, connected, rechargeable and entirely sustainable solution introduced in 2017. Currently, just 30% of the components used in manufacturing Michelin tyres are made from natural, recycled or otherwise sustainable raw materials.

Read all the Latest News, Breaking News and Coronavirus News here.