With 2021 nearly coming to a close, we’re fast approaching the second anniversary of when the world stood still due to this god-forsaken virus nobody in the world was prepared for. I don’t know about you, but I’m only just beginning to come to terms with 2020, and 2022 is just around the corner. There is a glimmer of hope, though, as the world is slowly getting back on its feet, and the economy is gradually getting back up and running.
Although restrictions are becoming more lenient, the lasting effects of the pandemic continue to be felt. The manufacturing sector in particular, is an industry that will surely struggle to go back to normal. With mass lay-offs following months of closure, companies are finding themselves severely undermanned as the economy begins to open up, and demand gradually increases. Furthermore, the already problematic shipping container shortage further aggravated by the Suez Canal blockage in March 2021 continues to present challenges to global trade.
As such, multiple industries—the motorcycle and automotive industries, in particular—are experiencing production delays brought about by raw materials shortages. We’ve seen this with semiconductors and microchips in recent months. This time, it’s hitting the tire industry, with the cost of producing rubber increasing. Because of this, Mitas, a popular Czech tire manufacturer, has announced a five to ten-percent increase in price on all its tires.
This is the second time this year that the tire giant has hiked its prices on account for raw materials shortages. The price hike affects not only motorcycle tires, but those for heavy industry machinery such as trailers, airplanes, and trucks. A complete list of the new prices for Mitas’ tires can be found on the company’s official website linked below. Following the recent price hikes of Mitas tires, it isn’t a far-fetched notion if other bigger, more popular tire manufacturers begin incrementally increasing the prices of their products, too.