The sustained rise in rubber prices has made across-the-board tire price hikes inevitable.

　　[Huicong Automotive Supplies Network] Due to the continuous rise in tire‑manufacturing raw material costs—particularly natural rubber, which has surged from 9,000 yuan per ton to 21,000 yuan per ton, a 110% increase in just three months—most tire manufacturers have now issued price‑increase notices, including several leading international brands.

　　The sustained rise in rubber prices has also driven up tire‑manufacturing costs, a trend that is particularly pronounced for truck and bus tires. Over the long term, this will inevitably extend to passenger‑car tires as well; Bridgestone has already announced that, effective January 1, it will raise prices on passenger‑car tires in the European market.

　　At the beginning of the month, China Tire Business Network reported that Bridgestone was the first in Europe to raise prices: effective December 1, the company will increase the average price of its Bridgestone and Firestone commercial‑vehicle tires sold in the European market by 1%. In addition, on January 1, 2017, a new pricing structure for passenger‑car tires and two‑wheel tires will take effect, with expected average price hikes of approximately 3% for both categories.

　　Several tire manufacturers have been raising prices since 2017.

Due to the recent continuous rise in the prices of key tire raw materials, production costs have been steadily increasing. In light of this, and after comparing pricing with industry peers while taking market acceptance into account, the company has decided to raise its prices. Natural rubber prices have already surpassed 21,000 yuan per ton, and are expected to exceed 24,000 yuan per ton by April next year. As a result of these rising raw-material costs, tire manufacturers are set to implement across-the-board price hikes in 2017.