Pirelli says tire price hikes due to raw materials

Pirelli have denied that the recent price increase across the board on all of their tire products is not related to their investment in Formula 1, but rather on the cost of raw materials.
A spokesperson for the Italian tire manufacturer, when asked if there was a connection told YallaF1.com, “No, this is not connected with the F1 participation – no additional budgets have been allocated for this. Our presence in F1 doesn’t affect our internal costs and we have no need to charge anything to our customers."

On Wednesday, 19 January, Pirelli announced an increase of prices in all European, Middle East, African and Asia-Pacific markets for its entire range of tires, as a consequence of the increased prices of key primary materials, in particular natural rubber.

The price increases, which will take effect on March 1st, will be of 3% for car, SUV and motorcycle tires, and 7% for both heavy and light industrial tires.

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