Another hike expected in Indian tyre prices

摘要

THE Indian tyre market expects another rise in prices before the onset of the monsoon, reports the Hindu Business Line. This latest rise is expected to be much greater than previous rises over the last two months. In the words of the convener of the All-India Truck Dealers Federation (AITDF), S P Singh, "The market continues to be firm and there are signals of a possible price rise in the near future from tyre manufacturers." Singh also explained that tyre manufacturers had increased the prices of the entire range of products by 3%-4% during March and April, which has resulted in truck tyres being Rs600 (US$13) to Rs800 (US$17.50) more expensive. Since tyres constitute roughly 35% of the operating costs of trucks, a further hike in prices may also call for a rise in road transport charges.