Indonesia's Gajah Tunggal Q1 2014 sales increase
ERJ staff report (TP)
Jakarta, Indonesia – Tire manufacturer Gajah Tunggal said its net sales increased by 5.3 percent to Rp 3,200bn (€198.7m) in the first quarter of 2014 from Rp 3,038bn (€191.4m) in the first quarter of 2013 .
The “positive momentum” in export sales, which started in the second half of 2013, continued in the first quarter of 2014 with export sales growing by 29.6 percent compared to the corresponding period in 2013.
Sales to the US and Europe “recovered strongly on the back of their improving economies”.
Another driver in the company’s sales growth has been the further penetration into the passenger car radial OE segment, where sales and sales volumes more than doubled year-on-year.
Sales of the Low Cost Green Car (LCGC) models, to which the company is a major tire supplier, continue to be “robust”. In addition, the company has started to supply tires for the Honda Mobilio of which selling commenced in the first quarter of 2014, with encouraging initial sales numbers.
On the other hand domestic replacement market sales exhibited some weakness as volcanic eruptions and persistent wet weather, often resulting in flooding, dampened demand as well as competition intensified.
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Press release from Gajah Tunggal