Europe: Michelin to raise tire prices image

Michelin has announced today that the company plans to increase prices in Europe across all tire ranges in the near future because of raw material costs. Prices will be raised for all brands and across all market segments by an average of 5%.

– In the Motorcycle and Scooter tire segment in Europe, prices will be raised by up to 7.5%. The increase will be implemented as from March 1, 2011.
– In the Earthmover tire segment in Europe, 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 tires, the increase will average 7% in Europe** and will be implemented gradually between March 1 and April 1, 2011.
– Prices for Agricultural tires 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 tire segment, prices will be raised for all brands and across all market segments in Europe (summer and winter tires) by an average of 5%. These increases will be gradually applied between April 1 and June 1, 2011.