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Tires are an essential part of any vehicle, responsible for safety, performance, and efficiency. However, consumers around the world have noticed a significant increase in the cost of tires. This article delves into the reasons behind this surge in prices, offering insights and perspectives to understand this trend.
Global Raw Material Shortages
One of the primary factors driving up tire prices is the shortage of raw materials. Tires are made from natural rubber, which is harvested from rubber trees primarily in countries like Thailand, Indonesia, and Vietnam. Fluctuations in the supply of natural rubber, often due to climate changes or political instability in these regions, can significantly impact tire prices. Moreover, the COVID-19 pandemic disrupted the supply chain, leading to a shortage of raw materials and, consequently, higher prices.
Increased Manufacturing Costs
The cost of manufacturing tires has also
