Giti Tire USA announced it will raise prices up to 5% on passenger, light truck, SUV and CUV tires and up to 10% on all TBR tires, effective Nov. 1.
The company said, “the increase will reflect the raw material and transportation cost increases incurred by the company over the past several months, along with the recent tariff increase.”
A slew of tiremakers have announced price increases, many citing the cost of raw materials and transportation as their reason for doing so. Giti Tire, headquartered in Singapore, operates eight manufacturing plants and produces a broad range of tire products. It began producing passenger and light truck tires in the U.S. last year with the opening of the company’s 1.8 million square foot plant in Chester County, South Carolina.
Below is a timeline of tire price increases this year from manufacturers:
- Sept. 26: Bridgestone Americas announced it will increase prices by 10% on Dayton brand truck and bus radial (TBR) tires sold in the U.S. and Canada.
- Sept. 24: Nexen Tire America to increase its prices by up to 6% by Nov. 1.
- Sept. 21: Alliance Tire Americas announces price increases up to 4% by Nov. 1.
- Sept. 12: Kumho Tire to increase prices by up to 6% by Oct. 1.
- Sept. 10: Bridgestone to raise prices on passenger and light truck tires by up to 3.5% by Oct. 1.
- Sept. 5: Cooper Tire & Rubber Company to hike prices by up to 4% across all of its brands by Oct. 1.
- Aug. 29: Firestone Ag will increase prices up to 4% for select agricultural tires sold in the U.S. and Canada by Oct. 1.
- Aug. 20: Goodyear Tire & Rubber Co. announced it will raise prices on select consumer tire lines by up to 3%, effective Sept. 1.
- April 16: Alliance Tire Americas announced it will hike prices by up to 6% by May 1.
- April 3: Falken Tires announced a price increase between 3-7% on certain products by May 1.
- March 28: The Carlstar Group announced it would increase prices up to 18% on all steel and aluminum wheels and steel components effective April 9.
- March 19: Camso announced it would raise prices 1-6% on its aftermarket products including tires due to the rising cost of raw materials.