The leading tyre manufacturer in the country, JK tyres has recently said that the company is expecting to hike its prices by close to 4% very soon. While the hike comes with a view to offset the high impact of the rising input costs, it may be noted here that the company has so far hikes its prices by close to 14%.

The Marketing Director of the company, A. S. Mehta said that as the demand usually picks up after the monsoon, the company is currently weighing an option of announcing a price hike by 3-4% by the end of this month. It is to be mentioned here that the company has raised its prices by close to 10% since May in the Indian market.

While the current average tyre costs close to Rs 2,000, the commercial vehicle tyre comes at a price of Rs. 12,000. However, the market watchers are of a view that this hike will be the last hike announced by the tyre manufacturers for the rest of the year.

In fact, Mehta also confirmed that the company has so far no plan to announce another hike by the end of this year.