Giti raising P/LT tire prices again

RANCHO CUCAMONGA, Calif. (Feb. 4, 2015) — Giti Tire (USA) Ltd. has raised prices 5.5 percent on all passenger and light truck tires sold in the U.S., the second price increase Giti has announced since the U.S. imposed anti-dumping duties on Giti tires from China in early December.

“We appreciate the outstanding relationships we've developed with many of the country's top tire dealers and will continue to work closely with them to provide consumers a great tire at an affordable price,” said Armand Allaire, executive vice president, sales and marketing, for Giti Tire.

The U.S. has imposed countervailing and anti-dumping duties totaling 30.91 on Giti (11.74 percent CV and 19.17 percent AD duties).

The company raised prices on tires imported from China 9.5 percent on Jan. 1; this latest announcement brings the increase to 15 percent. ST-type trailer tires are not affected.

“We are very committed to the U.S. market,” Mr. Allaire said, “as evidenced by the fact that we will be holding a groundbreaking ceremony for the new Giti Tire plant in Chester County, South Carolina, on Feb. 12.”

Giti Tire (USA) is the Rancho Cucamonga-based sales and distribution subsidiary of Giti Tire Group, headquartered in Singapore. It imports tires from plants in China and Indonesia.

The company goes to market in the U.S. with four brands: GT Radial, Primewell, Dextero and Runway.