Egypt’s heat wave jumpstarts tire market
The market's prices rose as hot temperatures affected the wearing of the rubber.
Egypt’s tire market has witnessed a rise in prices. While a number of traders attributed the price hikes to the heat wave, which accelerates the wearing out of the rubber, tire agents denied that the high temperature affects a tire's lifespan.
The agents said the tires put on the market in the Middle East are designed to be used in over 50°C temperature.
A source at Al-Mostafa for Wheels and Tyres Trading said the heat wave has contributed to an increase in tire sales, with the popular brands, including Turkish brand Lassa and Thailand-made Maxxis, seeing a 90 percent increase. The prices increased by EGP 30 to EGP 100 ($4-$13) for a single tire in different types and sizes.
The source explained that the price hike on Lassa and Maxxis tires occurred due to the fact that they are the most actively traded. The 70-175-13 tire size registered around EGP 300 ($38) compared to EGP 270 ($35) in the winter.
The prices of the other sizes of the same brand have increased as well: size 70-185-13 has registered approximately EGP 350 ($45) compared to EGP 330 ($42) before the heat wave, while size 185-65-14 increased from EGP 380 to EGP 400 ($49-$51). The 195-70-14 size jumped EGP 50 ($6), currently registering EGP 450 ($58), after it was previously EGP 400 ($51).
The source added that tire prices for pickup trucks have also increased, registering an EGP 100 increase per tire. Michelin 14 has risen to EGP 1,100 ($141) compared to EGP 1,000 ($128) before the increases.
He added that there are international brands whose prices have not been affected by the weather, including Continental, where size 13 (German) registered approximately EGP 350 ($45), size 14 around EGP 450 ($58), and the sizes between 15 and 20 ranged between EGP 600 ($77) and EGP 1,800 ($230).
Additionally, the Sumitomo tire amounted to EGP 340 ($43) for size 13 (Japanese), while size 14 registered approximately EGP 450.
For his part, Mohamed Magdy, Pirelli’s Marketing Manager in Egypt, denied that his company had raised prices, adding that there is no reason for raising the tire prices now.
Magdy explained that the heat wave Egypt is experiencing will not affect the tires’ life-spans, adding that the tires put on the Egyptian market, especially those for trucks, are manufactured through high technology to be able to perform in high temperature.
He added that all the tires can be used in temperatures over 50°C, and that it is untrue that the tires quickly wear out during heat waves. Moreover, the tires are available in the market and did not suffer shortages, he said, adding that the agents did not raise the prices.
Magdy noted that some traders exploited the heat wave to increase tire prices, and asserted that the prices of the Bridgestone brand increased due to the difficulty of obtaining letters of credit for importing tires.
By Ahmed Amer
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