According to Malaysian Tyre Dealers Association, the price of local car tyres will be increased from October. The price of car tyres has already been increased in April and July this year, and this will be the third increase this year.
The price of some brands of tyres in the country has been increased several times due to increases in raw material prices, transport costs and labour costs. Cars are now using steel wire tyres, so the price of new tyres will also be affected by the price of steel wire and will increase.
There are few natural rubber components in car tyres, most of which are dominated by imported chemicals and artificial rubber, and the weak Malaysian dollar is also one of the reasons for the price hike in car tyres.
In addition, retreaded tyres have also been increasing in price since mid-August, by more than 10%. However, some companies have more stock, so they will wait until October before adjusting their prices.
