Tyre prices are set to go up again, by three-four per cent in June for the fourth time in six months, to partly offset a 27-28 per cent increase in input prices. Raghupati Singhania, vice chairman & managing director, JK Tyres, said his company would be forced to take a three-four per cent price hike in June due to rising input costs. He said this while announcing results for JK Tyres for the year ended March.
Earlier this month, Apollo Tyres had said it would increase tyre prices by four per cent in June, after raising these by 3.5 per cent from May 1. The hike is due to the increase in the cost of natural rubber and petroleum-based inputs, among others.
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