Vitality of the global tire market began to recove

World tire giants one after another recently published report in the first half of this year, show the world tire industry experienced a severe financial crisis last year, has been out of the doldrums, sales revenues and profits generally the same pace. In addition to the world's top ten tire giant Goodyear small losses, all profits and a relatively large increase over the previous year. Meanwhile, the company optimistic about the second half of the tire industry in general market trends, market expectations raised in the second half, and a new round of expansion wave.

The world's three major tire giant Bridgestone first tier financial situation completely changed. Bridgestone first half of the number one sales up 15% over last year, sales reached 44.5 billion yen net profit, compared Bridgestone deficit of 39.3 billion yen. Michelin ranked second in the first half revenue growth of 17% over last year, reaching 10.3 billion U.S. dollars, net profit exceeded expectations, reaching 618.5 million U.S. dollars, while last year's first half loss of 172.4 million U.S. dollars, operating profit margin from the same period last year 4% to 9.8%. Goodyear ranked third in the first half losses of the Group is also reduced by 30 times over last year.

The world's second-tier continental tires, Pirelli, and all profits and higher growth. Continental profit of 158 million U.S. dollars, while the loss of 190 million U.S. dollars last year. Italian Pirelli Group, the financial division by the subsidiary, but still achieve the increase in net profit, operating income increased by two thirds. Japan's Sumitomo Rubber sales increased 22.2% to reach 3.07 billion U.S. dollars, profit reached 114 million U.S. dollars. Hankook Tire sales and both achieved double-digit operating profit growth. Solid Platinum U.S. sales grew 29.5%, reaching 1.56 billion U.S. dollars, by the loss of 34.2 million U.S. dollars last year into a profit of 55.7 million U.S. dollars. Kumho Tire sales grew 25.8% to 1.05 billion, from last year's loss to a profit of 64.4 million U.S. dollars.

World tire third tier (ranked 10 after) Japan so most profitable, but the level varied. In 2009, China entered the world top 75 tire companies are all profitable.

The tire company's financial situation improves mainly from sales growth and price increases. Government to stimulate the global automotive industry and the economy in the context of the good is turning the corner, leading to a big increase on the demand for tires. First half of the tire company is the biggest sales increase in North America, Michelin North America Passenger and light truck tire market growth of 70% OE, Goodyear OE market in North America increased 69%. The beginning of the major tire companies in the general price increase on tires 5% ~ 10% in May most of the company has 5% price increase, which greatly improve the performance of the tire company to promote the role, but also to lay the second half performance continued to improve basis.

U.S. Rubber Manufacturers Association (RMA) to increase tire shipments expected in 2010. RMA forecast, thanks to a surge in demand OE tire market is expected to total tire shipments increased 8% over the previous year, reaching 282 million units, which is quite the 2008 data. Increase in volume reflects the United States is recovering from a serious recession, which also shows including the world tire market in North America, including the trend is clearly to the good.

The tire company generally good in the second half trend. Most tire companies have recently raised its sales and profit targets this year's program. Bridgestone expects full year net profit will reach 91.1 billion yen, higher than May's plan more. Optimism Michelin that even if the raw material up not worry, be compensated by higher prices this year is expected to grow revenue more than 10% to achieve good profitstyre.

Tire company performance and to better predict the optimistic market outlook, the new round of global expansion is the rise of the tire. Bridgestone, Michelin and so on have started several new and expansion projects, mainly in China, India and other emerging countries. Almost all the world's top ten in China before the start tire projects, such as Michelin Shenyang Project, Japan Zhangjiagang project, Sumitomo Changsha project, Hantai Wu Han projects, Bridgestone Huizhou project, Continental Hefei projects. Bridgestone, Michelin also were large-scale expansion in India.


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