Some car tire prices will be increased from October, the third time this year.
According to the news issued by the Malaysian Tyre Dealers Association, the price of local car tires will be increased from October. Car tires have been increased in April and July this year, this will be the third price increase this year.
Based on the price of raw materials, transportation costs and labor costs, some domestic brands of tires have increased prices several times. Nowadays, cars are using steel wire tires, so the price of new tires will also be affected by the price of steel wire and increase.
There are not many natural rubber components in car tires, most of them are based on imported chemicals and artificial rubber, and the weakness of the Malaysian dollar is also one of the reasons for the price increase of car tires.
In addition, retreaded tires have also increased in price since mid-August, with an increase of more than 10%. However, some companies have more inventory, so they will wait until October to adjust prices.
