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November 20, 2024, 2:25 PM
On November 19, it was reported that China's tire export market performed well in the first 10 months of this year, but the challenges brought by China and the international environment are still severe. According to the latest data from the General Administration of Customs of China, in the first 10 months of 2024, China's rubber tire exports reached 7.74 million tons, a year-on-year increase of 5.2%, and the export value also achieved a year-on-year increase of 5.5%, reaching 136.4 billion yuan. Among them, the export volume and amount of new pneumatic rubber tires increased by 4.9% and 5.4% respectively, and the export volume increased significantly by 10.4% in terms of the number of tires to 563.95 million tires.
In the China market, the performance of passenger car tires is particularly outstanding. According to statistics, retail sales in China's passenger car market reached 2.109 million units in September, a year-on-year increase of 4.5% and a month-on-month increase of 10.6%, setting a record for the highest monthly sales this year. 1-9 In March, cumulative retail sales in the narrow passenger car market in China reached 15.574 million units, a year-on-year increase of 2.2%. This growth trend has also been reflected in the original passenger car market, and tire demand has maintained steady growth.
However, in sharp contrast to the prosperity of the passenger car market is the downturn in the heavy truck market. According to the First Commercial Vehicle Network, sales volume in the heavy truck market in China was approximately 58,000 units in September, down 7% month-on-month and 32% year-on-year. 1-9 In March, the heavy truck market sold approximately 683,000 vehicles of various types, and the cumulative growth rate turned negative, with a decrease of approximately 3%. The decline in heavy truck sales has put a lot of pressure on the all-steel tire market.
In China's replacement market, the tire business recently visited a number of tire stores in Beijing and found that although the "customer number" has rebounded, the "customer unit price" is still difficult to increase, and the overall market sales are not optimistic. Especially after entering the second half of the year, tire market sales showed a significant downward trend.
What worries China tire companies is that the "double opposition" in the international market has intensified and exports have been blocked. Recently, the United States imposed anti-dumping duties of as high as 12.33%-48.39% on truck and bus tires imported from Thailand. This move may cut off the way for China tire companies to transit trade through Thailand. At the same time, Mexico has also decided to impose long-term countervailing and anti-dumping duties on truck and bus tires imported from China. In addition, the UK also announced preliminary investigation results of anti-dumping and countervailing measures on truck and bus tires imported from China, recommending raising tariffs on most China tire exporters.
According to the Carbon Black Industry Network, these "double reverse" measures have undoubtedly brought tremendous pressure to China tire companies. Many countries and regions around the world have built "double anti" walls, making China's tire exports face more severe challenges. In the China market, the withdrawal of foreign brands and fierce competition in the all-steel tire market have also put pressure on China tire companies.
Faced with such a severe market environment, competition in the tire market has become the norm, and cruel competition will be the theme of the future. The future tire market will be full of challenges and opportunities, and China tire companies need to be prepared to face this bloody competition.
