By Oliver Hall
Pirelli are putting up the cost in the US of the P4 Four Seasons and Cinturato P5 passenger tyres it sources from China.
The 10 per cent price hike on the tyres comes “as a result of market pressures by the recent tariff on Chinese consumer tyre imports, as well as an increase in rubber and raw material costs”, according to Pirelli officials.
Pirelli blamed the price increases on the recent tariff on Chinese consumer tyre imports mandated by President Barack Obama, as well as market pressures created by an increase in rubber and raw material costs.
The company sources the two tyres lines from Pirelli Tyre Co. Ltd. (China) in Yanzhou, Shandong, China.
It is the first company from the premium sector to raise its prices in response to the Chinese import tariff controversy.
Pirelli previously said that only very small shipments of certain specific products would be directly affected by the tariff and that its influence was “not material.”