Faced with rising raw material costs, the Michelin Group says it is maintaining its firm pricing policy; it has announced rises across its product ranges. Light vehicle tyres in Europe are set to see price increases averaging 5%.
Michelin says that prices of all tyres ranges will be raised in Europe in the motorcycle and scooter tyre segment in Europe, where prices will be raised by up to 7.5%. The increase will be implemented as from March 1, 2011; in the earthmover tyre segment in Europe, where prices will be raised by up to 7.5%. The increase will take effect as from March 1, 2011 and will concern most European markets; for new and retreaded Truck tyres, the increase will average 7% in Europe and will be implemented gradually between March 1 and April 1, 2011
Prices for Agricultural tyres in replacement markets in Europe will be raised by an average of 4%. These increases will be gradually implemented between April 1 and May 1, 2011.
In the Passenger Car and Small Truck tyre segment, prices will be raised for all brands and across all market segments in Europe (summer and winter tyres) by an average of 5%. These increases will be gradually applied between April 1 and June 1, 2011.