The latest CRIA data reveals the scale and ambitions of the leading Chinese tyre manufacturers
CRIA: Giti is second; Sailun Jinyu third
The latest CRIA data, which was released by Chinese tyre industry association CRIA on 12 April, shows that Zhongce Rubber Group (also known as ZC Rubber) remains the number tyre manufacturer in China in terms of income, with 2016 sales of 18.38 billion yuan (RMB). Giti Tire’s Chinese operation (Giti Tire [China] Investment Co., Ltd.) trails by more than 6 billion yuan, but is a clear second place with 13.14 billion yuan in 2016 ahead of Sailun Jinyu Group, which reported income of 11.19 billion yuan last year.
Doublestar, which is currently in the process of making a serious bid for a significant stake in Kumho, can be found in sixth position with 2016 sales of 7.26 billion yuan. When you consider that both Doublestar and fourth-placed Shandong Linglong (2016 sales: 10.5 billion yuan) have reportedly been bidding for Kumho and that both are a significant way behind the top three manufacturers in China, it begs the question: who will be bidding for shares in other, much bigger tyremakers next?
Further down the table, it is interesting to note that Aeolus Tire Co., Ltd. and Pirelli Tyre S.p.A. can be found in 11th and 12th position respectively. Seeing as both companies are effectively owned by ChemChina, and bearing in mind that the businesses have been executing some complex ownership changes in recent months, it will be interesting to see how this changes by the table the next table is published.
Leading tyre manufacturing businesses in China
|Rank||Company name||Sales income (billion RMB)|
|1||Zhongce Rubber Group Co., Ltd.||18.38|
|2||Giti Tire (China) Investment Co., Ltd.||13.14|
|3||Sailun Jinyu Group Co., Ltd.||11.19|
|4||Shandong Ling long Tire Co., Ltd.||10.50|
|5||Zhengxin Rubber (China) Co., Ltd.||8.87|
|6||Double star Group Co., Ltd.||7.26|
|7||Triangle Tire Co., Ltd.||6.83|
|8||Xing yuan Tire Group Co., Ltd.||6.63|
|9||Michelin (China) Investment Co., Ltd.||6.20|
|10||Double Coin Holdings Ltd.||5.90|
|11||Aeolus Tire Co., Ltd.||5.77|
|12||Pirelli Tyre S.p.A.||4.42|
|13||Prinx Chengshan (Shandong) Tire Co., Ltd.||4.35|
|14||Sheng tai Group Co., Ltd.||4.27|
|15||Guizhou Tyre Co., Ltd.||4.04|