RANCHO CUCAMONGA, Calif.—Giti Tire (USA) Ltd. plans to raise prices on Oct. 1 by an undisclosed amount on all "Giti-produced" tires sold in the U.S.
The company said the action "is in response to the continued increase in raw- materials prices, as well as increases in logistics and ocean freight costs."
The action will affect all brands produced by Giti, such as GT Radial, Giti, Primewell and Dextero, produced both domestically and at Giti plants in China and Indonesia. The action covers both commercial and consumer tires.
Giti's announcement follows by four months the imposition of a freight surcharge—of as much as $10,000 per 40 high-cube container for some destinations in the U.S.—"due to the challenges that all companies who use ocean freight for the transportation of goods are facing."
That policy is still in effect, Giti said.
