2023 has come to an end, and recently, a number of tire factories collectively announced the gratifying performance growth in the past year, which can be said to have ushered in a "good situation that has not been encountered for many years", and also boosted the confidence of the start of 2024, which is of historic significance. So, can 2024 continue last year's booming market?
How hot is the tire industry in 2023?
Shandong Chengshan Group concluded that last year, the group's revenue hit the new target of more than 10 billion yuan in one fell swoop, and the main tire business revenue profitDouble-hit record highs, the two major factories in Shandong and Thailand are developing synergistically, and the market is growing steadily.
In 2023, Vanlead Tire's sales volume and revenue will achieve double-digit growth"Red all year round" results, operating income increased by 16% year-on-year, sales volume increased by 20% year-on-year, of which overseas sales increased by 22% year-on-year.
Chaoyang Langma tire production, sales and revenue have been realizedDouble-digit growthFrom January to November, 3.44 million tires were produced, an increase of 128%, operating income increased by 10 year-on-year4%。Net profit increased by 133 year-on-year3%。
Yanchang Rubber Company said at the staff meeting that the company sold 613 tires in 2023580,000, exceeding the annual task; A total of 389 tires were exported throughout the year60,000 and obtainedBest results all-timeAt the same time, significant progress has been made in the adjustment of sales structure, and the sales volume of large sizes has increased steadily.
Zao Mining Group Rubber Company said that last year's production and sales, revenue, and profit achieved comprehensive growth, which was a historic achievementThe whole industry and all strains are profitable, 800 million tires and Fengyuan tires sales increased by 183% and 22%, the proportion of all-steel high-end "stable and long-distance" series sales increased by 33% year-on-year, and the proportion of semi-steel high value-added and profit-oriented products increased by 22% year-on-year5%。
Can it continue to be popular in 2024?
According to industry analysis, in 2023, China's tires will receive dividends in the three major markets of supporting, export, and replacement: the new energy vehicle policy is favorable to stimulate the development of new tires; The economy stabilized and the consumption policy drove the replacement and maintenance market to rise steadily; In the case of the global economic downturn, self-owned brand products seize the opportunity to maintain export growth far beyond expectations by virtue of cost-effective advantages.
Then in 2024, if the above three market dividends continue to be released, the production and sales of tire companies will be supported, and the tire business will continue to be hot. However, the tire industry may usher in greater changes in the coming year:
First of all, the rapid development of new energy vehicles has brought new demand to the tire industry, profoundly changing the market demand trend of supporting and replacementThe pace of product iteration changes fasterIt is a severe test for the strategic planning and R&D capabilities of tire enterprises.
Secondly,Intelligence and personalization have become the new trendIt not only brings more opportunities and growth potential to the automotive tire market, but also requires tire companies to improve their 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 becomes the new standardConsumer demand for energy-efficient and environmentally friendly tires is also increasing, which requires tire manufacturers to develop low-rolling resistance tires and the use of materials to reduce the fuel consumption of vehicles and the environmental impact of waste tires.
In a word, I believe 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!