Weifang Shunfuchang Rubber & Plastic Co., Ltd. announced on Feb. 5 to adjust the prices of TBR tires starting from Feb. 6.
Prices of all the tubeless tires with after-sale services will rise 10%, and those without after-sale service and all the inner series products rise 15%.
The company had increased the tire prices once on Jan. 20. It increased product prices for the second time within half a month and the increment is much higher than the previous time.
A person in charge emphasized that rapid growth of raw materials increased the costs and resulted in the price lifting.
Currently, the company has reached its capacity limit with no inventory. That is the reason why it dares to lift prices.
The official said although it had lifted prices for a few times, but still not as fast costs are rising.
