London - China-based tire manufacturers reported a decline of around 7% in sales for 2016 compared to the previous year, ERJ’s analysis of figures supplied by the China Rubber Industries Association (CRIA) and company reports show.
And, as was the case in 2015, most of China’s larger tire makers suffered lower revenues in their home currency based on slowing domestic demand and the effects of growing import restrictions in major export destinations – the US in particular.
Looking only at figures from companies with recorded sales for both of the last two years, the year-on-year decline comes in at 6.5%: $17,841.5 million compared to $19,087.6 million in 2015.
Despite a 12.6% drop in sales, Zhongce Rubber Group retained a solid hold on top position in our chart: its 2016 sales of $2,687.6 million, keeping it comfortably ahead of its nearest rivals.
Summary from report published in the China Tire Report 2017, a supplement with the July/Aug issue of European Rubber Journal magazine.