RANCHO CUCAMONGA, Calif.—For the third time this year, Giti Tire (USA) Ltd. has announced a price increase.
The tire maker said it will raise prices on all Giti-produced passenger, light truck and truck/bus radial tires sold in the U.S. by up to 10 percent, starting in January.
The company said the upcoming price hike is in response to the continued escalation in prices in raw material, labor and transportation costs and other business and operational expenses.
Giti previously announced price hikes on July 5, a freight surcharge of as much as $10,000 per 40 high-cube container for some destinations in the U.S.; and the second on Oct. 1, by an undisclosed amount on all Giti-produced tires sold in the U.S.
