GITI TIRE (USA) LTD. ANNOUNCES AN ADDITIONAL PRICE INCREASE DUE TO U.S.DEPARTMENT OF COMMERCE DUTIES
RANCHO CUCAMONGA, CA (Feb. 4, 2015) — GITI Tire (USA) Ltd. has announced a price increase of 5.5% on all passenger and light truck tires (excluding ST tires) the company sells in the United States, effective immediately.
The total anti-dumping duties assessed to Giti Tire are 30.91% (combining the 11.74% CV duties and the 19.17% AD duties). The company has responded by raising its prices a total of 15% (9.5% effective Jan. 1, 2015, and 5.5% effective Feb. 4, 2015).
“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 (USA) Ltd. “We are very committed to the U.S. market, 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.”
About Giti Tire
Giti Tire Group, headquartered in Singapore, has been in the tire business since 1951, and is ranked 10th globally by Tyre Press. Giti Tire operates 8 manufacturing plants, produces a broad range of tire products, serving major original equipment vehicle manufacturers, auto-service outlets, tire dealers and consumers in more than 130 countries worldwide.
GITI Tire (USA) Ltd., based in Rancho Cucamonga, California, is the sales, marketing, and distribution company for North America. It markets and sells a family of brands: GT Radial, Primewell, Dextero, and Runway tires for high performance vehicles, passenger, SUV, light truck and medium trucks through national retailers, independent retailers and distributors across the United States and Canada.