The global tyre manufacturer NEXEN TIRE announced today that due to rising raw material prices as well as freight and logistics costs, the prices for all company brands in the replacement market have to be adjusted.
The prices for all the company’s summer, winter and all-season tyre product lines on the European market, including UK and Russia, will be increased linearly up to 6.6 percent as of February 1st 2021.
The increased raw material costs and the sharp rise in logistics costs are forcing the tyre industry to raise its prices,” explains John Bosco Kim, President of NEXEN TIRE Europe s.r.o.. As early as 2020, the cost of rubber and carbon black increased significantly compared to the previous year.
On top of that, the freight and logistics costs have increased immensely due to a tripling of sea freight rates and a new CO2 tax as of 2021.
“Through continuous increases in efficiency, NEXEN TIRE continues to strive worldwide to minimize the effects of rising costs on the prices of its tires and to keep offering its customers the best price/performance ratio on the market in future,” says John Bosco Kim.