Recent overseas media reports stated that some South African tire dealers might increase the price of all Chinese imported tires by 38%.
In 2022, even though the global tire price has experienced several rounds of price increases, many consumers still find it difficult to accept the one-time price increase of nearly 40%. At the same time, some local consumers noticed that not all the tires with increased prices were imported, and not all imported tires were affected by the price increase. Some unscrupulous tire dealers are trying to take advantage of the current situation by increasing the price of all tires instead of only hiking the price of imported tires. They have raised the price of all tires by nearly 40% - not just imported from China, but imported tires from North America and Japan also increased by almost 38%.
The upsurging price of tires is experiencing waves of protests. Under such severe inflation this year, the price increase of up to 38% caused by the anti-dumping and countervailing duty order is a massive blow to many automobile owners, especially the fleet and other transport operators. Therefore, the current dispute over the tire import tariff increase is becoming more intense.
As a member of The South African Tyre Manufacturers Conference (SATMC), four local tire manufacturers submitted an application to ITAC to impose anti-dumping duty on tires imported from China. Once ITAC makes a final decision in favor of SATMC, tire importers and distributors in South Africa will face huge trade risks.
On the other hand, Charl de Villiers, chairman of the Tyre Importers Association of South Africa (TIASA), confirmed to "Moneyweb" last week that TIASA had begun to take legal measures to overturn ITAC's decision to impose temporary anti-dumping duty on tires imported from China.
What is your catch on this? What will be the outcome and how will this affect your tire business?
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