Demand on China's half-steel tire down
Analysts predicted that China's half-steel tire production would decrease 8% to 15% in 2020.
They said that China's government has announced several stimulation policies, and China's passenger vehicle sales have shown gradually growth, but recovery hasn't reached expect, so they predicted that China's vehicle sales would cut 10% in 2020, compared to the same period of 2019.
In that case, China's half-steel tire for OEM market would yearly jump 10% to 20%.
At the same time, China's tire export would also decrease 15% to 25% in 2020, analysts said.
Due to 40% of Chinese tires mainly sold to EU、North American and Southeast Asian market, China's half-steel tire export would yearly down by 15% to 25% in 2020 under global COVID-2019.
On the side of domestic epidemic, China's replacement market was recovering, but still lower than last year.
Analysts predicted that China's half-steel tire for replacement market would slide 10% to 20% in 2020.
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