Tyre aftermarket a growing focus for Conti
During last Thursday’s annual press conference, Continental CEO Dr. Elmar Degenhart shared that expansion of the tyre business and further acquisitions are on the cards as part of the company’s aim of reducing its reliance on the automotive original equipment industry. After discussing the recent acquisition of Veyance Technologies, a firm he described as “ideally” matching the ContiTech division in terms of both product range and markets, Degenhart added that further steps towards reducing automotive OE dependence will follow: “Firstly, in the form of continuous expansion of our replacement tyre business. And then too, we are not ruling out the possibility of further acquisitions.”
Continental anticipates global replacement passenger car, SUV and light commercial vehicle tyre markets will rise three per cent year-on-year in 2014; according to Degenhart, a two per cent increase is expected in Europe and the NAFTA area; unit sales in these two regions should thus rise by a total of 11 million units compared with 2013. A year-on-year rise of five per cent to 66 million units is anticipated in South America, along with a six per cent increase to 313 million units in Asia.