Rancho Cucamonga, California – Giti Tire USA is the latest tire maker to raise prices in the US: announcing hikes of up to 5% on passenger, light truck, SUV and CUV tires, and up to 10% on all truck & bus tires.
The increases, effective 1 Nov, reflect rising raw-material- and transport-costs over the past few months, as well as the impact of recent tariffs, said Giti.
The announcement extends the list Tof tire companies to have announced price increases recently in the US market.
From next month, Alliance Tire Americas Inc. will raise prices by 4% across its Alliance, Galaxy and Primex brands, while Nexen Tire Americas Inc. will increase prices by up to 6% on all passenger and light truck tires.
Effective 1 Oct, Bridgestone Americas raised US prices for replacement passenger and light truck tires by 3.5%.
Also as of 1 Oct, Cooper Tire & Rubber Co. added up to 4% on passenger and light truck tire brands, while Kumho Tire USA Inc. up to 6% on its passenger, light truck and medium truck tires.
In an earlier move, Goodyear raised prices by up to 3% on certain consumer tire lines with effect from 1 Sept.