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Tyre maker Michelin has said that it will raise the prices of its entire range of products in the country by up to 12 per cent with effect from April 1, 2011, on account of high input costs.
“In the face of continued and accelerating escalation of raw material costs, Michelin Africa, India and Middle-East (AIM) is maintaining its firm and responsive pricing policy.
Prices of all product ranges will be increased in Africa, India and Middle-East,” the company said in a statement.
The company said the prices of motorcycle, scooter and passenger car tyres will be hiked by up to 8 per cent. “All truck tyres, accessories, tubes and flaps and treads will increase by up to 12 per cent,” it added.
Furthermore, agriculture, backhoe and skid-steer tyres will be costlier by up to 7.5 per cent, while earthmover, TP and industrial tyres will be expensive by an average of 6 per cent.
The company also hiked the prices of all accessories by about 6 per cent. “The price increases reflect the raw material escalations up to January this year only, and will take effect on April 1, 2011,” it added.
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