By Ollie Hall
The price of truck tyres will rise between 3% and 5% by the middle of 2010 as the market continues to struggle with reduced demand and a weak pound, according to a forecast by Continental.
Arthur Gregg, sales and marketing director for Continental commercial tyres, says: “At the start of 2009 we saw the cost of raw materials and oil rise, which forced us to increase prices by 3% and then a further 6% in March to compensate.
“We’ve forecast that the pound will decline further against the euro and the cost of raw materials will invariably go up, so for that we’ve forecast a price increase of between 3% and 5% in the second quarter of 2010.”
He added: “Next year’s market will continue in a similar vein as it has done over the past six months and will start to grow very steadily from the middle of next year onwards, however, the impressive sales we saw in 2007 won’t be back until 2013 or 2014 at the earliest.”
Forecasts and costs aside, Continental has said that it is seeing a growing demand for tyres with higher load capacities as well as smaller 17.5-inch and 19.5-inch tyres for double-deck trailers.