2021 New News on Tire Prices

2021 New News on Tire Prices

February 24, 2021

Have you heard of the tire price frenzy? 

As soon as the Spring Festival passed, tire prices rose crazy! Such a crazy price increase has put dealers and tire stores in a dilemma, to pay close attention to the goods price and order the goods, or cover your money bag and wait? 

More than 70 tire companies issued price increase notices!

It is very worth mentioning that Michelin China took the lead in issuing the April price increase notice. Michelin will increase the price by 3% for some products starting from April 1.


Michelin suddenly pushed the tire price increase boom to April, and domestic tire companies were not willing to fall behind, and they released March price increase information.


Magis Tires announced that on March 16, the prices of passenger and passenger tires increased by 3%; 

Fengshen Tires announced that on March 15, the price of truck tires increased by 3%; 

Linglong announced that on March 1, the price of some products increased by 3-5%; 

Double Coin announced that on March 1, the price of truck tires and engineering machinery tire products increased by 2-3%; 

Triangle announced that on March 1, the price of truck tires will be adjusted; 

Wanli Tires announced that on March 12, the price of some products increased by 3-5%; 

Wanda Bao Tong announced that on March 1, the prices of all steel truck tires, passenger tires and engineering mechanical tires will increase by 3-5%; 

(some tire group price increase notice ↑ )

About 800 million rubber announced that on March 5, the price of each product series was raised by 2-3%, and on March 20 it was raised by 2-3%. 



Why tire price increase since 2020?

The continuous surge in tire prices is inseparable from the boost of natural rubber, which has been rising since last year, and has exceeded the 16,000 yuan mark. 


Following this situation, the price of natural rubber has exceeded 18,000 or even 20,000 days。Tire prices will continue to climb as natural rubber prices rise.


The price increase of tires in 2021 will be global rather than local price increases such as China or the United States. Currently, tire prices including North America, the European market, and South Korea are rising. 


Another major reason for the global increase in tire prices is the imbalance between supply and demand. Due to the impact of the new crown epidemic, the capacity of tire factories other than China has dropped significantly. However, with the restoration of economic activity, the demand in the tire market has skyrocketed, and the capacity of tire factories has not Keep up. 


In addition to the supply and demand relationship, the continued strength of raw material prices, especially rubber prices, is also one of the reasons for tire companies' price increases. It is not difficult to predict that global tire prices will be at a high level in 2021.