Maxxis: Sales have grown US$2 billion in five years
Maxxis International has reported another strong year of growth for the 12 months to January 2013. Results from the last financial year show Maxxis tyre sales figures surpassing US$4.5 billion for the first time, up over $2 billion in the last five years alone. The company reports that despite an adverse global economy and substantial investment in research and development, increased manufacturing capacity, its new academy and latest testing facilities, Maxxis has still succeeded in posting net earnings of well over $1 billion.
According to UK MD Derek McMartin, these results are just the latest stage in a meteoric rise for the Asian-based manufacturer:
“We’ve been making good progress up the Global Tire Company Rankings for a long time and have been in the top ten for over five years now. In these turbulent times it will be interesting to see how we have fared against our competitors, and where we would have been had we not invested so much on future proofing our place amongst the elite. Demand for our products continues on an upward spiral and we have moved to meet this by almost doubling our production output.
“We are making good headway in the European OE sector, and I think these figures will have a few eyebrows twitching, and a few of the more established ‘big names’ looking at us as very closely in the coming months.”
In the UK, Maxxis has looked to increase its market share by switching distribution to Stapletons. This has given dealers more access to Maxxis tyres, which are growing in popularity with buyers and sellers alike due to their high performance characteristics, cost effective pricing and the opportunity to make good margin.
Maxxis International was established in 1967 and has developed a wide range that caters for automotive, light truck, motorcycle, ATV, bicycle, turf, trailer and industrial use. The company distributes its products in approximately 170 countries and operates from bases in Asia, Europe and North America, including research and development centres in Taiwan, China, the USA and the Netherlands.