Tire production in Qingdao dove

On August 15, Shandong Government released its latest tire production. In June, tire production in Qingdao created new low since 2017, with months decline.

Lowest monthly production in June

Statistics showed that there were 3,654,300 units of tires produced in Qingdao, year-on-year declining 11.21%.

Following is the trend of tire production in Qingdao, Shandong Province:

In 2017, tire monthly production in Qingdao fluctuated between 3,905,300 units and 5,226,600 units. During October to December, tire monthly production was kept above 5.2 million units every month.

However, tire production in the first half year of 2018, tire production in Qingdao started obviously declining, even gradually down from March to June. 

In June, there was only 3,650,000 units of tires produced in Qingdao, creating the lowest monthly production since 2017.

In the first half year of 2018, there has been 24,154,700 units of tires produced in Qingdao, and there were 28,348,400 units produced at the same period of 2017.

Growth rate also declining

With statistic scale changing, statistics from Shandong government showed a little difference between tire production and production growth.

However, analyzing from production growth, tire production in Qingdao in the first half year was also not as good as last year.

In the first half year of 2017, production growth in Qingdao kept two digital growth, and even over 20% in February, March, and May.

In the first half year of 2018, production growth was obviously declining compared to the same period of 2017, and even declining to minus growth in June.

Qingdao is one of most important tire production area in Shandong Province and in China. And most of tires were used to export.

Effected by US-China international trade war, Chinese tire export was obviously diving down, which caused production decreasing, local tire producers said.