Official Press Release from Continental Sime Tyre Sdn Bhd
Continental Tires will increase both passenger & light truck (PLT) and radial truck & bus (TBR) tyre prices at the beginning of second quarter 2011 in the Asia-Pacific replacement market. The increases, for Continental branded PLT products up to five per cent and TBR products up to six per cent; for other brands owned by Continental up to nine per cent. Specific price increase quantum and timing will be communicated locally across the region. The rising cost of raw materials with all time high prices f.e. for natural rubber is the primary reason for the increases in order to compensate at least parts of these additional costs.