By Oliver Hall
Two tyres manufacturing giants have announced they are set to increase prices across Europe from 1st April.
Bridgestone and Pirelli have blamed escalating raw material costs, particularly natural rubber, on the need to put prices up on their products.
Gerry Duffy, vice president of sales and marketing for Bridgestone Europe, said: “While we are making intense efforts to mitigate the impact of raw material cost increases, regrettably we have no option but to reflect a portion of the cost increase in the tyre price.”
Its price rises will vary according to product category and market, however, in most cases, the increase is likely to be between three and five per cent.
Pirelli will also be imposing a price increase of between four to six per cent on all car, motorcycle and truck tyres right across the European market.
According to Pirelli, raw materials costs have doubled over the past twelve months.