Apollo and Nokian raise prices
16 december 2009
Starting next year, prices for tires produced by the Finnish Nokian and Apollo, as well as several other Indian companies, will increase.
On January 11, 2010, Nokian Tyres Inc. will raise prices by 3%-6% due to the rise in raw material costs and other expenses.
"Like all other manufacturers, we have had to face the rise in the cost of raw materials, transportation, and energy," said Nokian President Bernie Del Duca. At the same time, several Indian tire companies, along with Nokian, have announced that they will raise prices for their products by the end of this month to compensate for the effect of rising raw material costs and increased sales volumes in the automotive market.
"We have decided to raise prices by 5%-10% by the end of this month," said Satish Sharma, Apollo's operations manager in India. "The cost of agricultural tires, which require the most natural rubber, will increase by 10%. Other non-load tires will become 5%-7% more expensive." Dunlop India also stated that it will consider raising prices - by 3%-7%. "If raw materials and rubber continue to rise in price, we will definitely have to raise prices," the company said.
On January 11, 2010, Nokian Tyres Inc. will raise prices by 3%-6% due to the rise in raw material costs and other expenses.
"Like all other manufacturers, we have had to face the rise in the cost of raw materials, transportation, and energy," said Nokian President Bernie Del Duca. At the same time, several Indian tire companies, along with Nokian, have announced that they will raise prices for their products by the end of this month to compensate for the effect of rising raw material costs and increased sales volumes in the automotive market.
"We have decided to raise prices by 5%-10% by the end of this month," said Satish Sharma, Apollo's operations manager in India. "The cost of agricultural tires, which require the most natural rubber, will increase by 10%. Other non-load tires will become 5%-7% more expensive." Dunlop India also stated that it will consider raising prices - by 3%-7%. "If raw materials and rubber continue to rise in price, we will definitely have to raise prices," the company said.