- The increment in prices will be implemented in markets of India, Africa, and the Middle East.
- Michelin will hike prices by up to eight per cent; to be effective from March 2021.
Close on the heels of a few auto makers announcing an increase in prices of their vehicles, French tyre maker, Michelin, has just announced that prices of its tyres will be hiked.
While this includes markets such as Africa, India, and the Middle East, Michelin also stated that the prices will see an increment of up to eight per cent across all segments.
Company officials revealed that the price revision addressed the increase in raw material cost (natural rubber in particular), global transportation cost, and other market factors. This price increase is effective from March 2021.
