MILAN, Italy (Jan. 20, 2011)—Pirelli Tyre S.p.A. plans to hike prices by 3 percent for all its tire types in Europe, the Middle East, Africa and the Asia-Pacific markets because of higher raw material costs, particularly natural rubber.
The price increases take effect on March 1 will be of 3 percent for passenger, sport-utility vehicle and motorcycle tires, and 7 percent for both heavy and light industrial tires, the company said.