Toyo Aiming for 5% of US Market
Last year Toyo, said to be the world’s 11th largest tyre manufacturer, produced 30 million tyres. This figure is anticipated to rise in coming years – the company plans to produce 35 million pieces by 2010 and 50 million by 2015. Should Toyo reach this level, the tyremaker will be at the level of Yokohama, currently ranked number seven globally. The Japanese manufacturer produced a total of 49.95 million tyres in 2007.
This growth will mainly take place courtesy of sales in North America; a region that, according to the company’s “Fact Book” publication, already accounts for 56 per cent of the company’s sales outside of Japan. Should the company’s goal be realized, sales of its Toyo and Nitto brands in 2010 should equal five per cent share of the North American market.