From about mid-2021 until now, tire prices have increased by 5-10% on average, depending on type, mainly for popular models.
Many dealers of popular tires in Vietnam such as Michelin, Bridgestone, Goodyear, Continental, Hancook… all have prices increased from 50,000-500,000 VND for a tire. Even some domestically produced tire models such as Casumina’s Advenza also increased slightly by 50,000 VND per tire for ordinary cars.
The range of inflated tires spans 14-19 inches, the bigger the tire, the more gain. Tire lines for 18-19 inch wheels increase by about 500,000 VND/tyre. For example, a Tucson tire that used to cost 2.8-3.2 million VND now increases to 3.1-3.6 million VND.
For each model, if the tire is not used according to the vehicle, users can change it at will with other brands. So the price is also different. New but old tires (for example, 2020) cost less than 2021. For example, the Honda City model has a wheel size of 185/55 R16, with tire choices from about 1.2 million to 2.2 million dong. .
Representatives of tire companies in Vietnam also confirmed that the price increase in the market was correct according to the company’s adjustment. A representative of Goodyear Vietnam said that the tire price of this company increased by 20-30% due to the affected import supply. Meanwhile, Michelin only increased a few lines due to increased logistics costs due to disruptions due to the epidemic, an increase of 8-10%. Continental, a tire manufacturer made in Vietnam, said the price increased slightly by 5-15% due to the increase in raw material prices, this increase was lower than imported tire companies.
The worldwide shortage of tire rubber has forced many factories to reduce production capacity. Currently, tires in Vietnam are imported a lot from Thailand, Indonesia, Japan and China.
After about 4 months of gap in the southern region and nearly 2 months in the Hanoi area, tire demand skyrocketed when the gap ended. According to some tire dealers, the price will not increase much from now until the end of the year, but it will also be difficult to reach the same level as before the epidemic.
In addition to some tire models that increase in price, there are also many tire models that keep prices stable. Because of the increase in prices, many customers switch to using glide tires (newly rolling short distances) to save costs.