New Delhi, Jun 23 (UNI) As input costs are rising, JK Tyre today said it will increase the prices of its tyres by up to six per cent in the next 45 days.
''The input costs are increasing day by day and it is a real challenge for us as oil, natural rubber and power prices are constantly pushing our margins. We do not have any option but to increase tyre prices by five-six per cent within next 45 days,'' JK Tyre and Industries Vice-President and Managing Director Raghupati Singhania told newspersons here.
The company had already hiked the prices twice in January and June by 2.5 per cent during each time.
''Earlier, the price rise was minimum as we tried to increase our efficiency. But this time we do not have any option. Otherwise, we will not survive,'' he added.
UNI SR GL NS2113