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12% CAGR projected in Thailand tyre market

The tyre market in Thailand is forecast to grow at a CAGR of more than 12 per cent between 2014 and 2019. Anticipated double digit growth in automobile production, expanding automobile fleet size, upcoming important infrastructure developments and growth-focused initiatives being undertaken by the government are expected to propel tyre sales in the country through 2019.The two-wheeler tyre segment accounted for the largest market share in 2013, followed by commercial vehicle, passenger car and OTR tyre segments. While the two-wheeler tyre segment is expected to retain its dominance, in volume terms, in the Thailand tyre market, the passenger car tyre segment is expected to surpass the commercial vehicle tyre segment and capture the second largest market share by 2019.

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Report: Philippines tyre market to experience double digit growth

The tyre market in the Philippines is forecast to grow at a CAGR of about 13.85 per cent between 2014 and 2019, according to a report published by TechSci. The report suggests the growth will be fuelled by a growing vehicle parc, infrastructure development and growth-focused initiatives taken by the government. While two-wheeler tyres accounted for a majority of the market share in 2013, the NCR region remained the highest contributor in tyre sales due to a large population living in the region and rapid development in industries located in the region.

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Comment: Roll on 2015

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As the evenings draw in and the temperatures drop, people not only make preparations for Christmas, but also consider the pros and cons of the last 12 months as well as look forward to next year. When it comes to the tyre business it is no different, I am sure we are all looking forward to our Christmas break – but this is also the season for stock-taking, both metaphorical and literal.

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Everything pointed to UK tyre market growth in 2014, but…

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Without being too dramatic, 2014 was a bit of a disappointment. All the macroeconomic and sector-specific indicators seemed to point to 2014 being the year when the tide turned and when sell-out replacement tyre volumes finally started growing again. And yet the market looks like it is going to be down again when the full-year 2014 figures come in. Despite being a fully mature market, the UK car tyre replacement sector has basically been on varying degrees of a downer for the last six years. Things are not as bad as they were, but they certainly aren’t showing the signs of slow, stable growth they once were. With all this in mind, Tyres & Accessories spoke with GfK automotive account director Kevin Glynn in order to get a handle on what happened this year and what we can expect in 2015.

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Total tariff load could be between 45 and 50%

When you add the standard preliminary countervailing charge of 15.69 per cent to the predicted anti-dumping tariff of between 25 and 35 per cent, it means we are looking a total potential tariff load in the region o 40 to 50 per cent. Writing in an investor’s note published immediately after the Department of Commerce announcement, SunTrust Robinson Humphrey analyst Robert Higginbotham certainly suggested as much: “We believe in the middle to upper end of expectations. Countervailing typically the smaller of the two pieces (the other being antidumping); today’s decision [24 November] implies a total tariff in the range of 45-50 per cent.

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Analysts predict Chinese tyre anti-dumping duties of 25 – 35%

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Following the news that the US Department of Commerce (DoC) had set the preliminary countervailing duty for Chinese consumer tyres, market analysts have begun estimating what they think the outcome of final determinations will be when they are announced on 6 April 2015. Preliminary details of anti-dumping duties are expected in January 2015. Writing in […]

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New UK tyre market report published

Market research publisher Bharat books has released a new report on the UK tyre market. Introducing the new product, the company contexualises the research against the backdrop of “anticipated growth in the UK automotive industry and expansion in the overall automotive fleet”, saying these markets are “expected to boost tyre demand in the United Kingdom”. Without giving any further details, the publisher suggest that there are “growing online sales of replacement tyres” and “rising demand for retreaded tyres, especially in commercial vehicles”.

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Malaysian tyre market to grow 9% (CAGR) in next five years

The Malaysian tyre market is forecast to grow 9.15 per cent (compound annual growth rate – CAGR) in terms of value in the period between 2014 and 2019. That’s the view of the recently released TechSci Research report, “Malaysia Tyre Market Forecast & Opportunities, 2019”. According to the report, some of the key factors driving the market include increase in volume sales of automobiles, expansion in vehicle fleet size, introduction of favorable government policies and rise in foreign investments within the automotive industry in Malaysia.

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2014 Eastern European trailer market flatlining

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The instability in both Ukraine and Syria has had a real impact on the outlook for trailer demand, indeed the East European trailer market is said to be flatlining in 2014. According to a new report produced by Clear International, nearly 7,000 trailers have been wiped from the forecast for the 2014/15 period. That is in addition to the reductions made to the last forecast in March this year following the annexation of Crimea. The forecast reductions affect Russia, Ukraine, Estonia and Latvia, plus Turkey which borders Syria.

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China passenger car vehicle market ‘to continue upward trend’

While some market analysts are pointing to the end of the 20 per cent annual growth “dream” attached to the seemingly perpetually growing Chinese domestic passenger car vehicle market, others point to the continuance of an “upward trend”. A new analysis of the automotive market in China produced by HIS should be counted amongst the optimists and suggests “significant growth opportunity continue in many of the country’s provinces, however, some provinces will start to see growth rates change significantly”. According to IHS Automotive forecasts, passenger vehicle volumes in the country as a whole are expected to rise more than 10 million units by 2026. And thus the detail is not as far apart from the opposing thoughts as it may first seem.

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Analysts: Conti’s rubber outperformance is good, but guidance is in line

Financial analysts have offered their response to Continental’s second quarter financial results, welcoming outperformance (particularly in the tyre division), but also pointing out that increases in guidance simply bring the firm in line with consensus expectations.

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Analysts: Michelin 1Q figures below consensus

Following the publication of Michelin’s first quarter 2014 revenues, which show a 2.4 per cent drop in group sales, market analysts have responded by pointing out that the 4.758 billion euro figure fell just short of the 4.765 billion euro average of expectations. Nevertheless Michelin has held to its 2014 objectives including increasing volumes 3 per cent; increasing operating income before non-recurring items; and achieving structural free cash flow of greater 500 million euros along with capital expenditure of 2 billion euros.

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Analysts: Foreign exchange outlook the only bad news in Pirelli results

Financial analysts have responded positively to Pirelli’s full-year 2013 financial results, with some reiterating their “outperform” guidance. The upbeat response was markedly different to the warnings of some market observers 24 hours earlier, which suggested the emerging market exposure (and its linked foreign exchange fluctuations) and Russian volatility in particular could undermine the company’s 2014 and 2015 outlook.

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Pirelli may reduce 2014 sales goal due to Russia, emerging market pressures

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While Pirelli’s recent sale of a 13 per cent shareholding to Russian petrochemical giant Rosneft brings it access to 2,800 petrol station/tyre points of sale, some industry observers are also warning that the political environment and the deal itself are on shaky ground. On the one hand the collaboration is expected to put Pirelli on a par with the premium leader in Russia, Finnish tyremaker Nokian Renkaat, in terms of a distribution network size there is more than one way to skin a cat in terms of distribution and other factors could end up affecting Pirelli’s overall sales targets. The company is set to publish its full year 2013 results this evening, along with its 2014 outlook commentary.

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BYD’s Qin is China’s best-selling electric car

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The Qin

BYD’s second-generation dual-mode, plug-in high performance hybrid electric saloon car, the Qin, has set a second record month of sales in February. Trends in March now make it ‘China’s Best-Selling Electric Vehicle’ according to China’s National Passenger Car Association. The Qin, in renamed form, is expected to spearhead BYD sales in the European consumer market in the coming years.

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