Cordiant reports healthy growth In Russian tyre market

ERJ staff report (DS)

Moscow - Russian tyre maker Cordiant said overall sales of tyres in Russia continue to accelerate, especially in the premium, “A” segment of the market.

The former Sibur subsidiary said the volume in the market has increase to 30.6 million units in the first half of 2012 from 25.8 in the same period of 2011 and 20.2 million in 2010. In value terms the progression has been even stronger, growing to Rouble 130.9 billion (euro 3306 million) in H1 2012 from Rbl 108 bn in 2011 and 78.7 bn in 2010

Cordiant claims a 15 percent share of the total market with first-half sales of rouble 17. billion, behind Nokian which, says Cordiant has a leading 16 percent share. The company places Nizhnekamskshina third with a 13 percent share and Michelin, Yokohama and Bridgestone coming in subsequent slots.

Sales of industrial tyres increased by around 39 percent in the period, while passenger car tyres increased by 27 percent in the six months.

Within the segment of passenger car tyres, the premium segment continues to grow and now represents some 37 percent of the market, up from 31 percent and 26 percent in the same period in 2011 and 2010 respectively. The mid-segment B has remained constant at 36 percent, though that declined to 32 percent in H1 2012. The lower C segment is steadily declining and now represents just 32 percent of the total.

Cordiant said capacity for agricultural tyres in Russia grew by 18 percent in the period, and this led to a fall in imports of some 9 percent.

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Press release from Cordiant (Russian language)

Above press release auto-translated (from Russian language)