589 new exhibitors at the 19th edition of Automechanika Dubai
Companies: 20% increase in car tire prices since the beginning of 2022
The 19th edition of Automechanika Dubai is being held at the Dubai World Trade Centre.
À from the source
Muhammad Fathi Aqel: "The recent period has begun to witness stability in tire prices, and it is expected that it will extend to the end of this year."
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Companies that supply car tires reported that the prices of various types of tires have increased between 10 and 20 percent since the beginning of this year, due to pressure from the high cost of raw materials used in manufacturing and shipping fees.
They indicated to «Emirates Today», on the sidelines of the opening of the 19th session of the Automechanika Dubai exhibition, at the Dubai World Trade Center, yesterday, that the current period is witnessing relative stability in prices, and it is expected that it will extend to the end of the year, and the return of prices to a gradual decline at the beginning of next year, with the recovery of production. Global decline in the cost of freight and estimates of the decline in the cost of production materials.
1145 exhibitors are participating in the exhibition, including 589 new companies, with a growth of 79% in areas, and 98% in the number of participants.
The general manager of the Central Trading Company, one of the companies of the Al Rostamani Group, Muhammad Fathi Aqel, said, “The prices of various types of tires have increased between 15 and 20 percent since the beginning of this year, due to pressure from the high prices of raw materials, in addition to the high cost of shipping and supply.” .
He added, "The recent period has begun to witness stability in tire prices, which is expected to extend to the end of this year, according to manufacturing indicators in international markets, in addition to expectations that prices will remain at their rates or decline during the first half of next year."
In turn, the general sales manager of the "Winren Tires" company, Zhong Hong, said, "Tire prices have increased by more than 15% from the beginning of this year until the end of the third quarter of the same year, under pressure from global production difficulties, especially in China, affected by the repercussions of the pandemic." In addition to the high prices of (rubber) globally and the cost of shipping and supply, in addition to the difficulties of shipping.
He added, "Prices began to record relative stability, gradually, about two months ago, with the return of recovery to production operations globally, and the start of stability in raw material prices, which will be reflected in tire prices during the first quarter of next year."
For his part, Sanchit Dhingra, director of VK India Tires, indicated that “the rise in tire prices ranged between 10 and 20% during the first nine months of this year, until it reached its current rates, during which it recorded relative stability. It continues until the end of this year.
He added that «the prices of petroleum materials used in the tire industry were a catalyst, along with the cost of rubber, in raising the prices of tires, and with the start of a relative decline in the prices of these materials, it is expected that next year will witness a relative decline in prices».
"The recovery of demand for tire products in the local market, finally, was not affected by the relative rises in tire prices, which are expected to continue with their current stability until the first quarter of next year," said Jerry Chang, sales manager at Green Tour Tires. In addition to expectations of a decline in prices in varying proportions ».
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