Hubtrac team raises Q4 income expectations
Hubtrac’s global management team has announced that it will increase sales expectations for the fourth quarter of 2021 and complete “the latest market positioning and orientation of Hubtrac tyres by the end of the year.”
The Hubtrac tyre brand is owned and produced by Linglong Tire and aims to generate increased sales turnover for the overall company by generating sales in the European markets.
Linglong Tire’s semi-annual report published on 26 August 2021 shows that, in the first half of 2021, unfavourable upstream raw material prices – amongst other factors – led to a sharp increase in export costs, and a month-on-month decline in automobile production and sales in the second quarter. Nevertheless, Linglong group sold 33 million tyres and achieved revenue of 10.038 billion Chinese yuan (£1.134 billion), according to the report.
As a result of the wider company’s achievements, the Hubtrac team is said to have received an injection of “higher morale”. And the completion of the manufacturer’s Serbia tyre factory will give Linglong Tire’s Hubtrac brand a specific “European home”.
Linglong’s Serbia plant is expected to start trial operations in the fourth quarter of 2021. Hubtrac is one of the first truck and bus radial brands to be produced, something that illustrates the level of trust placed in it.
Hubtrac European executive Leon Chen made the following three statements on the advantages of Hubtrac’s brand including brand positioning, circulation range and other issues that are generally of concern to European distributors:
“1) Hubtrac is a brand-new series product launched for the European and global markets. It is a product with a new sidewall design and appearance launched by Linglong’s European factory and will gradually introduce new pattern products with rich technical content. Hubtrac brings together the most modern crystallisation of Linglong design technology and the Serbian factory has the most advanced equipment. Hubtrac has the top-quality assurance.
“2) Serbia is in the hinterland of Europe, with a well-developed highway network and waterway transportation connecting all European countries, which saves buyers from the expensive transportation costs of importing from China or Thailand.
“3) Hubtrac’s target market covers all of Europe, and the Hubtrac production line will determine the specific price positioning based on detailed market feedback, brand positioning and factory costs.”
As a result of Linglong’s positive growth track, recent sales performance as well as the establishment of the Serbia tyre production base, the Hubtrac team are confident their brand will positively contribute to fourth-quarter income expectations.