After the Spring Festival, a number of domestic tire companies issued price notices to dealers. In March alone, there were 6 companies that announced the price increase of tires, including Ningxia Shenzhou, Yinbao Tire and Fangxing Rubber. The price increase ranged from 2% to 5%.
Tire manufacturers pointed out that with the increasing cost of tire manufacturing, in order to continue to provide quality products for the majority of users, we must have issued a price increase notice. According to the notice issued by the company, the price of raw materials has increased since the first quarter of 2019. The reason most mentioned is mentioned.
According to the arrangement, there are 3 companies that announced the price increase since March 1. Fangxing Rubber announced that it has raised the price of some of its specifications. The price increase has not been stated; Guizhou Tire announced that it has raised its price of all-steel heavy truck tires by 3%. Wanli Tire announced that it will raise the price of 12 brands of 13 to 15 inch products by 5%.
There are 2 companies that started to increase prices on March 6th. Ningxia Shenzhou announced that it will raise the invoicing price of its products by 2%. Shandong Yongsheng announced that it will increase the price of its PCR domestic products by 2%; Yinbao tires will be raised from March 11th. The price of all its products is 3%~5%