Magazine for the professional tire industry
Issue link: https://mtd.epubxp.com/i/630954
MTD January 2016 Facts section: shipments Chinese tire tarifs, then and now From Sept. 26, 2009, to Sept. 26, 2012, consumer tire imports from China were saddled with extraordinary tarifs. Shipments from China decreased considerably (see Chart 3) and pricing on low-cost radials increased dramatically. New tire tarifs, retroactively applied more than a year ago and signifcantly higher than 35%, are having an even greater efect on shipments from China. Pricing, however, has not been afected this time around. China accounts for close to 44% of the consumer tires produced globally, says David Shaw, CEO and head of research for Tire Industry Research. Tat will steadily increase to more than 46% in 2018. ■ Chart 3 U.S. CONSUMER TIRE IMPORTS FROM CHINA (in millions of units) Year Units Yr./yr. change 2015 30.2 -50.0% 2014 60.5 +17.9% 2013 51.3 +57.8% 2012 32.5 +25.0% 2011 26.0 - 16.1% 2010 31.0 - 27.9% 2009 43.0 -7.5% 2008 46.5 +14.8% 2007 40.5 +50.0% 2006 27.0 +28.0% 2005 21.0 +44.0% 2004 14.6 +36.0% 2003 10.7 +32.0% Chart 4 WORLD LEADERS IN NEW TIRE SALES (fscal year 2015; in billions of U.S. dollars 1 ) Tire company 2015 2014 Bridgestone Corp. $27.1 $29.2 Groupe Michelin $22.0 $24.4 Goodyear Tire & Rubber Co. $16.0 $17.6 Continental AG $11.4 $13.0 Pirelli & Cie SpA $7.0 $8.0 Sumitomo Rubber Industries Ltd. $6.1 $6.9 Hankook Tire Co. $5.7 $6.4 Yokohama Rubber Co. 2 $4.2 $4.7 Cheng Shin Rubber Ind. Co. Ltd. 3 $3.8 $4.2 Cooper Tire & Rubber Co. $2.9 $3.4 Toyo Tire & Rubber Co. Ltd. $2.6 $2.9 Kumho Tire Co. Inc. 2 $2.3 $3.2 U.S./CANADIAN LEADERS IN NEW TIRE SALES (fscal year 2015; in billions of U.S. dollars 1 ) Tire company 2015 2014 Bridgestone Americas Inc. $8.1 $8.8 Goodyear Tire & Rubber Co. $7.2 $7.4 Michelin North America Inc. $6.6 $7.3 Continental Tire the Americs LLC $2.6 $2.9 Cooper Tire & Rubber Co. $2.2 $2.5 Toyo Tire Holdings of America Inc. $1.2 $1.4 Hankook Tire America Corp. $1.2 $1.3 Yokohama Tire Corp. $1.2 $1.3 Sumitomo Rubber Industries Ltd. 4 $.8 $.9 Pirelli Tire North America Inc. $.56 $.64 Kumho Tire U.S.A. Inc. $.5 $.7 1 The average exchange rates between foreign currencies and the U.S. dollar difered from 2014 to 2015 as follows: European euro, up 19.5%; Japanese yen, up 14.4%; Korean won, up 7.5%; Taiwan dollar, up 4.6%. 2 Yokohama Rubber Co. and Kumho Tire Co. Ltd. signed a Memorandum of Understanding on Nov. 29, 2013. As part of the strategic alliance, the companies will share resources to "jointly pursue research and development of tire related technologies to compete with the Big 3," according to Kumho. 3 The Cheng Shin Rubber USA Inc. subsidiary does business as Maxxis International. 4 Sumitomo Corp. of America is run independently of Sumitomo Rub- ber Industries. From July 1972: Akron tire dealers offered free radial tire tryouts to customers. Radi- als represented only 7% of the replacement passenger tire market in 1972. Source: U.S. government, MTD fgures 48