- Indian tyre maker JK Tyre & Industries expects to ​raise product prices by ​a total of 11% to 13% by ​the end of September to offset rising input costs, its finance chief said, joining rivals in passing on higher expenses to customers.

The hikes reflect ‌pressure across ⁠the auto-parts ⁠sector after an oil price rally linked to the Middle East ​conflict drove up the cost of petroleum-based inputs, energy and freight.

Read more: JK Tyre plans 11%-13% price hikes by September-end

The tyre ​maker, which said in May it expects to raise prices by 5% to 6%, has since rolled out hikes every ​month in the first quarter and plans ⁠to increase ‌prices by a further 5% to 6% ​in the ​coming two to three months, CFO Sanjeev Aggarwal ⁠told Reuters on Wednesday.

"Prices (of raw materials) have gone ​through the roof and for us, it ​went up by almost over 20%. So, that has impacted business in this quarter," Aggarwal said, citing West Asia tensions, transport disruption and supply-chain constraints.

Raw materials such as natural rubber, synthetic rubber, carbon black and steel make up about ‌two-thirds of expenses for the company, which counts leading car makers Maruti Suzuki India and Tata Motors among its customers.

The move brings ⁠it in line with rivals Apollo Tyres and CEAT, which have also raised prices. Top Indian car makers have passed on the costs to customers.

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Industry data released earlier this month showed vehicle sales rose 21.8% in June, signaling strong demand across passenger and commercial vehicles and giving tyre makers more room to raise prices.