Russia sees notable price shifts in winter tires and other tire categories in early 2024
From December 2023 to January 2024, Russia experienced the sharpest monthly rise in winter tire prices among major tire segments, based on an analysis by a marketing agency. The study tracked average prices for new tires and highlighted how different categories moved in this short period.
In the non-premium segment, the average price of a winter tire rose by 1.4 percent in January, reaching 9.1 thousand rubles after 9 thousand rubles in December. In contrast, all-season tires saw a drop, with their average price slipping by 5.7 percent over the same month. Summer tires also declined, decreasing by 3.8 percent month over month.
January figures show the all-season tire category averaging 16.5 thousand rubles, while summer tires averaged 10.6 thousand rubles, down from 11.1 thousand rubles in December of the previous year. These shifts reflect a broader pattern in consumer pricing for tire products as the market adjusted to supply and demand dynamics at the start of 2024.
Data for January also revealed sales activity for passenger cars and light commercial vehicles, with a total of 83 thousand units moved through official channels and alternative import routes. This level of sales indicates steady demand for new vehicles alongside ongoing replacement tire purchases during the period.
Earlier reports noted that the former Hyundai factory in Russia would resume automobile production in the second quarter of 2024, signaling expectations of renewed local manufacturing capacity and its potential effect on supply chains for both vehicles and tires later that year.
Overall, the January 2024 snapshot demonstrates how pricing for winter tires can diverge from other tire categories even within a single month, influenced by factors such as seasonal demand, raw material costs, and import channel dynamics. Analysts emphasize the importance of tracking these price movements, since they can influence both consumer budgeting and the timing of purchases for winter safety.