JK Tyre today said it is likely to increase prices of its products by up to four per cent within this month across all categories due to high input costs, primarily that of natural rubber.
The company has so far hiked the tyre rates by about 14 per cent in this year.
"After the monsoon, demand usually rises after September 15. There is a strong possibility of raising the rates by 3-4 per cent by the end of this month," JK Tyre & Industries Marketing Director A S Mehta told reporters here.
The company has already raised prices by over 10 per cent since May, he added.
At present, an average car tyre costs about Rs 2,000, while that of commercial vehicle is around Rs 12,000.
He, however, said further tyre price hikes during the rest of the year is unlikely, if natural rubber prices remains stable at the present levels.
"Currently, natural rubber prices are hovering around Rs 160 per kg and if it remains at this level, there will be no further price hike in this year," Mehta said.
Traditionally rubber prices tend to soften after September, as new harvest arrives in the market.
He said prices of tyres can again shoot up from early next year.
Earlier, Automotive Tyre Manufacturers' Association (ATMA) had hinted that manufacturers might hike product prices by up to 25 per cent in this fiscal to offset rising costs.
In March, ATMA had written to Prime Minister Manmohan Singh seeking government intervention to address the issue of rising rubber prices and its impact on the tyre industry.
The tyre industry demanded that the government should scrap the 20 per cent import duty on natural rubber, ban futures trading of the commodity, besides excluding natural rubber from negative lists under regional trade agreements.
