Recently, the French manufacturer Michelin Group officially released the news of product price increases. Bridgestone and Goodyear also announced price increases as early as September. So far, the three billion-dollar giants in the tire industry are forced by cost pressure price.
"China Rubber" learned that the Michelin Group announced that its North American company will increase the price of all its US products for sale from December 1st, with a price increase of 8%.
In addition, since January 1, 2019, Michelin will increase the price of passenger cars, light truck tires and two-wheeled tires under the Michelin, Bailuchi and You Nai brand by 5%. The price increase is for the United States and Canada.
Michelin explained that in order to ensure the long-term development and continuous investment of the company, under the influence of high operating costs and other market factors, in order to ensure its ability to serve customers, price increases are necessary at this stage.
According to "China Rubber" statistics, the sales of "Golden September and Silver 10" just ended, and a number of domestic and foreign tire companies announced price increases, including many big-name companies such as Sai Wan, Wanli and Jiatong.