India’s leading tyre manufacturers are likely to hike prices for a third consecutive quarter, aiming to offset the persistent rise in the cost of raw materials, particularly natural rubber.
With inflationary pressures driving up input costs, CEAT and JK Tyre have seen their profit margins shrink despite steady revenue growth, leading them to pass some of the cost burden onto consumers.
CEAT recently raised prices by 3-4 per cent in its passenger and commercial tyre segments and has plans for further hikes in the current quarter.