Asian Manufacturers Could Hold 8% of CV Tyre Market in Next 5 years
Herbert Mensching, Continental’s manager Sales and Marketing Commercial Vehicle Tires Europe has predicted that Chinese and other Asian manufacturers could occupy between 6-8 per cent of the European truck and bus replacement market in 5 – 10 years time. Speaking at the recent re-launch of the ContiNetwork group in the UK, Herbert Mensching told Tyres & Accessories that his company was prepared for the “further complications” this may bring to markets like the UK.
Mensching also pointed out that while the numbers of cheap budget products sold in the roughly 1.3 million unit UK CV replacement tyre market has doubled in the last five years (from 100,000 to 200,000 units), these products don’t have the same retreadability properties or whole-life sales and marketing support as premium brands like Continental. With 70 per cent of UK CV casings currently re-used as retreads, this remains a key market factor, he continued.
According to Mensching, the European CV parc consists of roughly 4 million vehicles, consuming 12 – 12.5 million new tyres and 7.5 million retreads each year. Continental currently holds 18 per cent of the European replacement market, but CV sales and marketing manager made it clear that the company is aiming to achieving more, namely 20 per cent of the market. During the re-launch of the Conti-Network CV retail chain, company representatives gave details of how they believe Continental tyres can offer the lowest cost per mile, 10 per cent better tyre life and a 6 per cent fuel saving.