GLOBAL CONDITIONS ARE TO BLAME FORKUWAIT'S 5-15% PRICE INCREASE IN CAR TYRES

  • 02/11/2022

Kuwait City: Prices on the market for automobile tyres increased by 5 to 15 percent, depending on the type, size, and country of manufacture. The rising costs of rubber, oil, and energy sources in general on the world market, which in turn contributed to higher prices for tyres of all kinds. They also cited challenges in manufacturing the tyres and the high cost of shipping. 


Highlighting the availability of tires of different sizes and types, they said the options are diverse and many for the consumers, especially since different countries manufacture tires including America, China, Japan, Malaysia, India and Korea. The countries where raw materials are available are multiple, especially Malaysia, South Africa and Indonesia. 

Given the ongoing global crises that have impacted supply chains and energy prices, they emphasised that the price increase is not only occurring locally but also globally. Additionally, there was an imbalance in the supply and demand rates as a result of the return of tyre demand to high levels following the COVID-19 pandemic recovery. The recovery from the Corona crisis and the increased demand for rubber had been anticipated by international businesses like Thailand's Sri Trang Agro Industry, the largest producer of rubber in the world. 

These businesses claimed that the high demand for car tyres, brought on by the rebound in auto sales and an increase in travel after the pandemic's severity in many countries around the world decreased, increased the demand for rubber because 80 percent of that material's production is used to make car tyres. International tyre manufacturers, led by French tyre maker Michelin, anticipate that profits in 2022 will surpass those of the years prior to the COVID-19 pandemic, thanks to growth in both prices and production. In Kuwait, especially during the winter and summer, tyres are one of the crucial components that need to be carefully considered because the high temperatures call for the use of specific types that can withstand, particularly for certain types of vehicles.

Related News

Kuwait population increases every 5 minutes
  • 03/02/2025
Kuwait Stabilizes Market Ahead of Ramadan
  • 29/01/2025
Kuwait Arrests Egyptian Expat for Forging Medical Documents
  • 29/01/2025
Kuwait Ministry of Education Cuts School Bag Weight by 50%
  • 27/01/2025
Security campaigns in Jleeb and Ahmadi
  • 27/01/2025
Kuwait introduces new housing standards for workers
  • 26/01/2025
2 Young Men Killed in Saad Al-Abdullah Car Crash
  • 26/01/2025
Women’s Health Index: Kuwait ranks 1st in Middle East, 2nd ...
  • 26/01/2025
Kuwait Announces 3-Day Holiday for Isra Wal Miraj
  • 25/01/2025
Kuwait Grapples with Diabetes
  • 25/01/2025
Kuwait's Revised Traffic Law to Take Effect on April 22, 202 ...
  • 24/01/2025
Kuwait Taps Turkish Company Proyapi for Railway Project Desi ...
  • 24/01/2025