In response to the substantial increase in the price of natural rubber, the main raw material for tires, Continental AG decided to increase the average price of summer and four-season tires for passenger cars and light trucks in the Asia-Pacific replacement market by 5%. The new price will be implemented from December 1, 2010. .
At present, natural rubber prices exceed 4 US dollars/kg, a record high. The price increase of the tires involved all the car and light truck tyre brands (including German brand tyres) under the Continental Group’s largest tire supplier in Europe. Dr. Andreas Esser, CEO of the Replacement Market Division of Passenger Cars and Light Trucks in the Asia-Pacific Region, explained: “We are increasing tyre sales prices in the Asia Pacific region to ease the cost pressure caused by the sharp increase in raw material prices this year. The new prices will continue to increase. China, Thailand, Malaysia, Indonesia, Philippines, Vietnam and Singapore."
At present, natural rubber prices exceed 4 US dollars/kg, a record high. The price increase of the tires involved all the car and light truck tyre brands (including German brand tyres) under the Continental Group’s largest tire supplier in Europe. Dr. Andreas Esser, CEO of the Replacement Market Division of Passenger Cars and Light Trucks in the Asia-Pacific Region, explained: “We are increasing tyre sales prices in the Asia Pacific region to ease the cost pressure caused by the sharp increase in raw material prices this year. The new prices will continue to increase. China, Thailand, Malaysia, Indonesia, Philippines, Vietnam and Singapore."
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