Goodyear, Zhongce, CST, Linglong, Guizhou Tire, etc. 40+ tire prices “hurricane” rose in February.
Since the end of the Spring Festival, notices of tire price increases have followed one after another, and a new round of price increase notices has come again.
Tire prices are still “hurricane”
Goodyear said that due to the continuous increase in various costs in the tire production and sales process, starting from February 13, the price increase of passenger car, light truck and truck and bus tires of Goodyear and Cooper is expected to not exceed 6%.
On February 7, Guizhou Tire issued a price increase notice, stating that production costs had increased due to rising raw material prices. Announced that the price of all-steel TBR products will increase by 2% from February 25.
CST Rubber issued a price increase notice, announcing that from March 1, the price of some products of the company’s brand Maxxis all-steel radial tire (TBR) will increase by 3%. Just a few years ago, Zhengxin Rubber issued a price increase notice. Announced that the price of Maxxis PCR/LTR/TBR products will increase by 3%-5% from January 1st.
For Linglong, starting from February 1, the prices of all TBR brands and products will increase by 2%-3%.
Price increase Recently, Shandong Dingchuang Tire also issued a price increase notice, announcing that the price of all products of the company will increase by 3% from February 1.
In addition, many tire companies have also issued price increase notices.
Now nearly 40 tire companies have announced price increase plans, as shown below:
Analysis of tire market environment
Recently, the price of upstream raw materials such as natural rubber and petroleum has continued to be high, resulting in the continuous increase in tire costs.
Commercial Vehicle Tires
In terms of commercial vehicle tires throughout the year, tires are a necessity, but there is no replacement tide during the Spring Festival holiday.
However, tire companies are not open all year round. Recently, Zhuo Chuang Information released the changes in the start-up of all-steel tires in Shandong in January, and said that the start-up load of all-steel tires in Shandong in January 23 is expected to be around 25%, or nearly The lowest level of start-up in the same month in nine years.
After the Spring Festival, although most tire manufacturers indicated that they planned to resume work by the end of January, they were concerned about the situation of resumption of work after the holiday, especially the concentration of workers from other places in Shandong, fearing that the return cycle of production workers may be delayed compared with previous years, and the full recovery of production may be the earliest In mid-February.
Passenger car tire
In terms of passenger cars, after the Spring Festival holiday, visiting relatives and friends and traveling by car are inseparable from cars. The two major vehicle maintenance surges before and after the festival have brought tire shops a boom in business that has not been seen in a long time, and at the same time slowly filled the passenger car tire replacement market.
Zhongce Rubber has decided that from December 2022 to February 2023, if there is a price reduction for all all-steel radial tire products, it will promise to guarantee the price.
Notices of tire price increases have been flying all over the sky since January, and there will be more and more notices of price increases in the future. It seems that the price increase is the general trend.