The leading tyre manufacturer in the country, J K Tyre recently said it will increase prices of its products by 4-5 per cent by the first week of September to offset rising input costs.

J K Tyre Director (Marketing) A S Mehta said that the rise is aimed to offset the hike in the commodity prices that has been putting a lot of pressure in the recent past on the company. Moreover, Mehta also pointed out the fact that by the first week of September we may increase another 4-5 per cent increase in tyre prices.

While an average car tyre costs about Rs 2,000 and that of commercial vehicle is around Rs 12,000, Mehta also said that the hikes will be announced across segments.

It may be recalled here that in May this year tyre manufacturers had said they would have to hike product prices by up to 25 per cent to offset rising input costs.

There is no denying the fact that the rising cost of raw material has been disturbing the run of the tyre manufacturers in the country and hence, the companies have no other option of pushing the burden on to the burden of the Indian consumer.