According to foreign media reports, tire prices in the Algerian market have risen due to a supply shortage.
Sources indicate that tire prices in the local market have increased by at least 25%. It was also pointed out that the tension in the tire market could lead to road safety issues.
In response to the current market situation, the Algerian government has decided to import tires. They plan to import 300,000 tires by the end of this year to meet market demand and significantly reduce prices.
Iris Group, the only local tire manufacturer, has responded to the sudden price increase in the market. The group stated that it has not raised the prices of any of its tire models.
The rise in tire prices is attributed to some tire traders exploiting the situation. They have taken advantage of the scarcity of certain tire models to maintain high prices and increase their profits.
It is understood that the annual demand for tires in Algeria ranges between 4 million and 5 million units. Iris Group's current annual production capacity is 1.8 million tires. The company plans to use new production facilities to double its output.
