2023 has passed, recently, a number of tire factories collectively announced gratifying performance growth in the past year, it can be said that ushered in a "good situation not encountered in many years", but also boosted the confidence in the start of 2024, which is of historic significance. So, can 2024 continue the red-hot situation of last year's market?
How hot is the tire industry in 2023?
Shandong Chengshan Group concluded that last year, the group's revenue hit a new target of 10 billion, the main tire industry income and profit hit a record high, Shandong and Thailand two major factories coordinated development, the market stable growth.
In 2023, Wanli Tire achieved double-digit growth in corporate sales and revenue, and won the "annual red" result, with operating income increasing by 16% and sales increasing by 20%, of which overseas sales increased by 22%.
Chaoyang Langma tire production, sales, income have achieved double-digit growth, from January to November, the production of 3.44 million tires, an increase of 12.8%, operating income increased by 10.4%. Net profit increased 133.3 percent year on year.
At the staff meeting, the company said that in 2023, the company sold 6.135,800 tires, exceeding the annual task; A total of 3.896 million tires were exported throughout the year, achieving the best results in history, and significant progress was made in the adjustment of sales structure, with a steady increase in large-size sales.
Jujube Mining Group rubber company said that last year's production and sales, revenue, profits to achieve comprehensive growth, the historic industry-wide profit, 800 million tires and Fengyuan tire sales growth of 18.3% and 22%,PCR-end "stable, long travel" series sales increased 33%, TBR value-added, profit products accounted for 22.5%.
Can 2024 continue the fire?
According to industry analysis, in 2023, Chinese tires will receive dividends in the three major markets of supporting, exporting and replacing: Favorable policies for new energy vehicles will stimulate the development of tires with new kinetic energy; The policy of economic recovery and consumption promotion drives the replacement and maintenance market to rise steadily; Under the sluggish global economy, independent brand products seize the opportunity to maintain export growth far beyond expectations by virtue of cost-effective advantages.
Then in 2024, if the dividends of the above three major markets continue to be released, the production and sales of tire companies will be supported, and the tire business will continue the hot trend. However, the tire industry may usher in greater changes in the next year:
First of all, the rapid development of new energy vehicles has brought new demands to the tire industry, profoundly changing the trend of supporting and replacing market demand, and the pace of product iteration is changing faster, which is a severe test for the strategic planning and research and development capabilities of tire companies.
Secondly, intelligence and personalization have become a new trend, which not only brings more opportunities and growth potential to the automobile tire market, but also requires tire companies to enhance innovative thinking, grasp the new needs of young user groups, and be able to provide customized tire services to improve the differentiated competitiveness of tires.
Finally, with the implementation of the national dual-carbon strategy, green environmental protection has become the new standard, and consumer demand for energy-saving and environmentally friendly tires is also increasing, which requires tire manufacturers to develop low rolling resistance tires and the use of recyclable materials to reduce the fuel consumption of vehicles and the environmental impact of discarded tires.
In a word, it is believed that the automotive tire market has broad development prospects, and Chinese tires will still be very fragrant in the global market in 2024, but market competition and changing needs also require enterprises to maintain innovation and flexible responses to seize opportunities and maintain competitive advantages!
