Chinese tire industry slid down in H1' 2018

Recently, China Rubber Industry Association released Chinese tire industry's performance report in the first six months of 2018.  

It is said that full-steel tire and half steel tire in China has shown negative growth in June. Production value, Production, export and sale revenue in Chinese tire manufacture has shown slightly growth in the first half year, but those indexes in oversea factory grew strongly.

Statistics showed that there were 204,842,100 units of tires produced in Chinese top 39 tire manufacturers in the first six months of 2018,year-on-year rising by 1.32%. And there were 186,463,200 units of tires produced in China, yearly declined 0.61% compared to the same period of 2017.

Half-steel tires' total production slightly increased 1.23%, but production in domestic factories actually decreased 1.36%.

Those indexes showed that CHIESE TIRE PRODUCTION WAS SLIDING DOWN.

Capacity utilization in Chinese tire industry was only 75% in the first half year, but industrial deficit reached 27.3%. Analysts said that decline trend would be worsen in the latest future. Tire production might be shown no growth or negative growth.

She Yifeng, secretary of China Rubber Industry Association, said that Chinese tire companies would not face production scale problem in the future, but face integrated capacity competition such as structure adjustment, benefit promotion, branding construction, fund permission etc..