AMSTERDAM — Group Michelin is raising prices in Europe in its various segments for the second time in 2017, the French tire maker disclosed recently in a presentation with financial analysts.
Michelin disclosed the price hikes during a JP Morgan Chase & Co. investor forum on May 12 in Amsterdam.
In that presentation, Michelin stated that it had raised prices on truck/bus tires in May by 5 to 8 percent and is intending to raise car and light truck tire prices by 2 to 3 percent in June. The firm also plans to raise agricultural tires prices by up to 12 percent in July.
These price increases are in addition to the previous round which came into effect throughout the first four months of the year, a Michelin spokesman told European Rubber Journal, a sister publication of Tire Business.