Michelin to increase alternative tire prices in China

Shanghai, May 8 (Gasgoo.com) Michelin China announced on Wednesday to raise alternative tire prices of sedans and light trucks by 3 percent to 7 percent due to the rising raw material costs.

The company said all its three sub brands in China, including Michelin, Warrior and BFGoodrich, will see a price hike, which will be effective from June 2008.

As of March 15, Michelin SA already started to raise tire prices as much as 8.7 percent globally. Car and light truck tire prices increased 3.5 percent in general, with a 7 percent rise planned for Britain to offset the negative impact of the euro exchange rate, the company said.

Truck tire prices increased 3.9 percent in continental Europe and 8.7 percent in the U.K.