Michelin raises tyre prices across Europe

ERJ staff report (DS)

Paris -- Michelin has announced that it is raising the price of its car/light truck, truck and farm vehicle tyres in Europe, due to an increase in raw material costs.

Car and light truck tyres will rise by 3.5 percent. For the United Kingdom and the CIS countries, the increases will be 7 percent and 6 percent, respectively, to offset the negative impact of the local currencies compared to the euro.

Truck tyre prices will rise by 3.9 percent in continental Europe and 8.7 percent in the United Kingdom.

For farm vehicle tyres, the increase will vary from 2 percent to 5 percent, depending on the brand and range. In the UK, the price of farm vehicle tyres will be raised between 6 percent and 9 percent.

The increases will take effect between March 15 and July 1, 2008, depending on the country and type of tyre.

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Press release from Michelin