Michelin has announced today that the company plans to increase prices in Europe across all tire varieties in the near future because of raw material costs. Prices will be raised for all brands and across all market sections 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 put into practice 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 put into practice slowly 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 slowly put into practice 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 slowly applied between April 1 and June 1, 2011.