According to the latest data, tire exports increased significantly year-on-year(December 19, 2024)

Data released by the General Administration of Customs of China on December 18 showed that China's rubber tire exports in the first 11 months of 2024 reached 8.51 million tons, a year-on-year increase of 4.8%; the export value was 149.9 billion yuan, a year-on-year increase of 5%.

Among them, the export volume of new pneumatic rubber tires reached 8.22 million tons, a year-on-year increase of 4.6%; the export value was 144.4 billion yuan, a year-on-year increase of 5%. Calculated by the number of tires, the export volume reached 620 million, a year-on-year increase of 10.1%.

From January to November, the export volume of automobile tires was 7.29 million tons, a year-on-year increase of 4.9%; the export value was 124.5 billion yuan, a year-on-year increase of 6.2%.

Competition in the tire market continues
China has always been the most competitive region in the world for tires. At present, China's tire exports still have good results, but many countries and regions in the world are still building double anti-dumping walls. As for the domestic tire market, it is also tragic. In the past two years, foreign brands have fled the all-steel tire market, leaving only Chinese tire companies entangled and infighting. The domestic tire market has long been a bloody sea.

Double anti-dumping intensifies, exports are blocked
Recently, the United States imposed anti-dumping duties of 12.33%-48.39% on truck and bus tires imported from Thailand, which is a very sinister move. Because the adjustment of the US tariff on Thai truck and bus tires is very likely to cut off the way for Chinese tire companies to re-export through Thailand.

In addition to the United States, Mexico has determined that the countervailing and anti-dumping duties imposed on truck and bus tires imported from China will last at least until 2029. According to a statement from the Mexican Ministry of Economy, the import tariffs imposed by the Mexican government on passenger car and light truck tires from China earlier this year took effect on October 1.

On August 27, 2024, the UK Trade Remedies Administration (TRA) announced the preliminary findings of two transitional reviews of anti-dumping and countervailing measures on truck and bus tires imported from China. The preliminary ruling showed that TRA recommended raising tariffs on most Chinese tire exporters to protect the UK tire retreading industry, which competes with imported new tires, from damage. What scares Chinese tire companies is that the double anti-dumping amount of commercial vehicle tires of some Chinese tire companies may exceed 1,000 yuan per tire.

Without further ado, people in the tire industry are also aware of the siege and blockade of Chinese tires by various forces! After talking about the export situation, let's take a look at the domestic tire market.

Domestic original equipment market
Data shows that from January to November 2024, the production and sales of passenger cars will be 24.459 million and 24.435 million respectively, an increase of 4.3% and 5% year-on-year. Among them, new energy vehicles: production and sales will be 11.345 million and 11.262 million respectively, an increase of 34.6% and 35.6% year-on-year.

‌Fuel vehicles: sales in November were 1.1564 million, a year-on-year decrease of 6.5% and a month-on-month increase of 8.7%.

In terms of passenger cars, it can be seen that production and sales are both on the rise year-on-year. This shows that tires are performing well in the passenger car original equipment market.

The latest data shows that the overall sales volume (wholesale) of commercial vehicles nationwide in November 2024 was 314,800 units, a year-on-year decrease of 13.93% and a month-on-month increase of 5.62%. From January to November this year, the cumulative sales volume (wholesale) of commercial vehicles nationwide was 3.5053 million units, a year-on-year decrease of 4.45%.

The sales volume of heavy trucks is not impressive, and the full-steel tire market is even more crisis-ridden. In terms of the replacement market, the tire business recently visited several tire stores in Beijing.

Tire stores, struggling to survive!
Terminal store survey, how is the current market?

Shop owner: How to say it, the "customer order number" is indeed a little more than the previous two years (that's because the market in the previous two years was really bad!), but the "customer price" can't go up, and it's still not good overall! If compared with the previous two years, it is indeed a little better, but it's only a little better!
After visiting, tire stores in Beijing said that the current tire market is not very good, especially after entering June, the sales volume of the entire tire market is not optimistic.

Competition has become the norm in the tire market, and brutal competition is the future of the tire market. The future tire market will be bloody and business will become increasingly difficult. Are you ready?