Guizhou Tyre ramping up passenger tire production in Vietnam

Guiyang, China – Guizhou Tyre has increased daily production to around 9,000 units at its new passenger tire facility in Vietnam, as the project continues to ramp up towards its annual capacity of 6 million tires.

The Chinese manufacturer said the semi-steel radial tire plant produced 793,600 tires during the first nine months of 2026, with sales reaching 464,300 units.

In its third-quarter financial report, published 28 Oct, Guizhou said the project remained in the "capacity ramp-up stage."

The new facility forms part of the manufacturer's Vietnam operations, which also include truck & bus tire production.

The operations recorded total tire output of 2.78 million units during January–September, up 53.2% year-on-year.

Sales at the Vietnamese subsidiary increased 30.3% to 2.39 million tires over the period.

Meanwhile, Guizhou reported a 25% year-on-year decline in third-quarter net profit attributable to shareholders to Yuan151 million (€20.5 million), despite higher revenue.

Sales for the three months ended 30 Sept increased 7.7% to Yuan2.98 billion.

The manufacturer attributed the earnings decline mainly to continued increases in the prices of key raw materials, including "natural rubber, synthetic rubber and carbon black."

It said adjustments to product selling prices remained constrained, resulting in "compressed profit margins."

For the first nine months of 2026, Guizhou reported a 13.2% increase in net profit to Yuan509 million, on 9.5% higher revenue of Yuan8.7 billion.