Apollo Tyres Ltd. is the latest tire manufacturer to announce a price increase. The company will raise prices on its Vredestein brand consumer tires up to 5%, effective March 1, "including adjustments at the article and pattern level."
According to Apollo officials, the price increases reflect increasing "raw material cost movement and increase in global ocean freight rates."
“We continue our resolve in building the Vredestein brand in the U.S. and Canada by providing best-in-class products from our global manufacturing facilities," says Abhishek Bisht, assistant vice president, Americas Apollo Vredestein Tires
"The Vredestein brand continues to be attractively positioned and a key contributor to our channel partners' profitability."
