Tyre prices up 2 p.c.
CN.Z. Press Association) WELLINGTON, January 3. The price of tyres has risen 2 per cent, and a further rise is being sought by the tyre industry.
The managing-director of Dunlop New Zealand, Ltd
(Mr J. E. S. Hammond) said today that the Price Tribunal had approved the 2 per cent maximum rise.
The increase represented only one-tenth of 1 per cent a year over the last 20 years, said Mr Hammond. He compared the price stability of New Zealand - manufactured tyres with that for milk bottles, which had stayed at the same price for 20 years. This stability was in the face “of some appalling in-
icreases in the cost of raw ; materials.” But even the 2 per cent increase was not enough to justify the industry’s development programme, and the present price adjustment was regarded as only partial relief, said Mr Hammond.
'( The tyre industry was' planning further consulta- ■ tions with the Price Tribunal. 1 The increase was effective , from January 1 this year. ; The price for retreading tyres would not be changed, said a spokesman from the firm.
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Bibliographic details
Press, Volume CXIV, Issue 33424, 4 January 1974, Page 2
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185Tyre prices up 2 p.c. Press, Volume CXIV, Issue 33424, 4 January 1974, Page 2
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