Tyre prices are soaring: expect shortages - Delticom

ERJ staff report (DS)

Hanover, Germany -- With rapidly increasing tyre prices across all regions, online tyre retailer Delticom AG is suggesting consumers do not delay any purchases

“Car drivers are likely facing drastic price increases in 2011," said Rainer Binder, CEO of Delticom. He continued, “Raw material prices are virtually exploding. Many manufacturers purchase the raw materials needed for tyre production months in advance. The drastic increase in raw material prices in the last few weeks will thus become noticeable in retail prices after a time lag. But further substantial price increases are expected in the course of the year."

In a statement, Delticom said, "In addition to the expected price increase, experts are forecasting shortages of tyres. The extended production time for winter tyres and generally limited production capacities are the primary factors contributing to this. Another reason is high demand from emerging markets within and outside of Europe. As a result of rising demand for motor vehicles, the quantities of tyres delivered for automobile production have increased at some manufacturers. These quantities may now be lacking in summer tyre production for the tyre replacement markets."

This is an external link and should open in a new window. If the window does not appear, please check your pop-up blocking software. ERJ is not responsible for the content of external sites.

Press release from Delticom