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Cheng Shin

China's Tyre Production Grows 35% 2010Q1 ia

According to the Chinese Ministry of Industry and Information Technology, in 2010Q1, the production and Chinese auto sales volume reached 4.55 million and 4.61 million, growing 77% YOY and 72% YOY, respectively. In March 2010, automobile production China and the sales volume amounted to 1.73 million and 1.74 million increased by 44% and 43% separately compared with the previous month, the rates of growth 58% and 56% separately. Car production and sales volume in March and Q1 of 2010 hit the record high. Almost all vehicle models is the tendency vigorous growth.

With the rapid development of Chinese automobile market, the tire industry also enjoyed growth high speed. In 2010Q1, the Chinese tire production was 167.44 million, 35% over 2009Q1.

In 2008-2009, due to financial crisis World Chinese tire exports was swamped. Fortunately, according to the high domestic demand, Chinese companies managed to offset tire some negative effects of export recession. Chinese domestic tire market is highly valued by the international tire companies. Despite the crisis and special financial measures in the tire, as transnational corporations like Michelin and Bridgestone tires continue to increase their investments in China.

Since entering China in 1999, Bridgestone has set up factories in Shenyang, Tianjin, Wuxi and Huizhou. In 2009, Bridgestone added another USD 98 million in its factory in Wuxi to expand its daily production capacity of 8,000 to 12,000 in July 2011. Bridgestone said it will continue its expansion in China.

The draft Continental Tire with total investment of 600 million euros was launched in late September 2009. The annual production capacity is scheduled to be 16 million tires for passenger cars and 2 million commercial vehicle tires.

In early January 2010 Michelin said to invest USD 1 billion to establish a factory in Shenyang for the production of passenger car and truck tires. The factory is expected to come into operation in 2012. On February 2, 2010, Michelin acquired the shares of Shanghai Michelin Warrior Tire Co., Ltd in the hands of other shareholders in the price of CNY 170 million to completely control the company.

Yokohama Tire has undertaken the expansion of the fourth round by Hangzhou Yokohama Tire Co., Ltd, plans to increase annual production capacity from 3 million to 5.10 million euros.

On January 28, 2010, TOYO Tires has announced it will invest USD 9.80 million to establish a wholly owned subsidiary in Zhangjiagang, Jiangsu. This subsidiary was producing cars and light trucks with an annual production capacity of 2 million radial tires. In 2002, Toyo Tire & Rubber Co., Ltd. became the shareholder of Cheng Shin-Petrel Tire (Xiamen) Co., Ltd. in 2003, Toyo Tire & Rubber Co., Ltd established Toyo Tire (Shanghai) Co., Ltd in Shanghai. In 2004, established Toyo Automotive Parts (Guangzhou) Co., Ltd in Guangzhou. Attracted by the tires high-potential Chinese market, Toyo Tire & Rubber Co., Ltd has decided to create a single company owned tire production in China.

In 2009, the reserve volume of private vehicles per thousand people in China was less than 50 years, well below the 600-800 in developed countries and less than half the reserve half of the volume in the world. With the development of the Chinese economy, the new vehicle sales volume of vehicles and maintain reserve volume rates annual growth of more than 15% over the next 3-5 years. This will promote high-speed development of Chinese market for replacement tires. It is expected that growth rate of the Chinese tire market will exceed the Chinese automotive market in the coming years. The participants in this market, including tires TNCs tires, local tire manufacturers and upstream and downstream all companies accelerate its expansion into the Chinese market in recent years to make big profits. In the Chinese tire market, both pioneers and newcomers receive great opportunities.

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