RANCHO CUCAMONGA, Calif. — Giti Tire USA Ltd. will raise prices on all Giti-produced passenger and light and medium truck tires tires sold in the U.S. by up to 8% starting in May.
The increase will be Giti's second in 2022 and fourth in the past nine months, including a 10% increase carried out in January.
The company said the price hike is "in response to the continued increase in raw material costs and other business and operational expenses."
Giti is the latest company to announce price hikes for this spring:
- Bridgestone Americas Inc. will raise prices up to 10% on non-winter Bridgestone-, Firestone- and Fuzion-brand passenger and light truck replacement tires sold in the U.S. and Canada on April 1.
- Continental Tire the Americas will raise prices on select Continental- and General-brand passenger and light truck tires in the U.S. market, also on April 1.
- Michelin North America Inc. will raise prices up to 5% across its brands on "select" passenger and light truck replacement tires, up to 9% on motorcycle tires, up to 8% on road-going (only 19.5 rim diameter and smaller) commercial tires (19.5-inch rim diameter and smaller) and by up to 19% on off-road tires, also on April 1.
- Pirelli Tire North America Inc. will increase prices by up to 10% for car and light truck tires sold in the U.S. on April 1.
