Margin pressure forces tyre makers to hike prices by up to 5%

Cost of rubber, the key input, has gone up by about 50% year-on-year and 17% in the last 30 days

Tyre companies, both domestic and foreign, have increased prices by 2-5 per cent, attributing the hike to the increase in rubber prices and to margin pressures. 

Industry sources said that rubber prices have gone up by as much as 50 per cent year-on-year and a staggering 17 per cent in the past 30 days alone, forcing manufacturers to increase the prices of tyres. While tyre prices for cars and trucks rose by 2-3 per cent, those for two-wheelers and three-wheelers were 2-5 per cent.

Retailers, however, are not happy about the decision. T Loonchand Chordia, who represent a multinational tyre