Tire industry to be ready for the winter
In the recent period, the tire companies have released statements in the first half of 2008 and the outlook for the second half. The world's leading tire companies generally decline in earnings, the majority of Chinese enterprises tire sales slowdown in the growth of benefits also fell. The world's leading tire companies generally agreed that for some time to come tire production supply and marketing situation is not optimistic. U.S. Rubber Manufacturers Association forecast that the U.S. tire sales to fall by 4% to 298,000,000, and in 2009 the market's downward trend in the tire change. Tire companies have a hard time, needs to be prepared for the winter.
Tire companies generally poor performance
World-class tire company after many years of good life, the prevalence of inflection point this year, sales growth, earnings decline. Bridgestone in the first half of this year, sales rose 2%, 30% of its profit to drop substantially. That the company's raw materials, high energy prices and the economic downturn, irreversible, and other short-term, it is expected to substantially lower this year, forecasting a profit this year than last year dropped 50%. Michelin that raw materials costs more than all expectations, the company led to the rise in cost of sales, cash flow is also affected by the increase in inventory is reduced. In the first half of the company's sales growth of 2.0 percent, operating profit fell 2 percent. Cooper Tire & Rubber Company announced that the first half of this year 1,500,000,000 U.S. dollars has been achieved record net sales, but a net loss of 21,000,000 U.S. dollars, compared with the same period last year while net earnings 38,000,000 U.S. dollars. Yokohama, the company said in the first half of this year to take to improve productivity, cut costs and a series of positive measures, it is still unable to digest the rising costs, has reached the tolerance limit. Hankook Tire in the second quarter of this year, despite sales growth of 16%, but operating profit fell, it was estimated the cost of raw materials than last year, up 24.3 percent.
The North American market shows signs of winter
North America is the world's largest tire production and marketing of the region, the world's barometer of the tire situation. As the U.S. sub-loan crisis and the deteriorating economic situation, the direct inhibition of the automobile demand. Relevant data show that the United States in the first half of this year, new car sales year-on-year decline in more than 17% to its lowest point this century. Lead to low demand for automotive tire sales in North America continued to decline. Bridgestone, Michelin in the first half of this year in the United States, there has been a marked decline in tire sales. In addition, the Rubber Manufacturers Association of the United States believes that by using fetal retail market this year will be reduced by 1% to reach 202,000,000. As the U.S. economy in 2009 will be in dire straits, take the child to use the retail market sentiment improvement. 2008 young-child card retail sales to fall by 7% up to 32,000,000, will continue to decline next year by 5%. In the replacement tire market, medium / wide-base / high-speed heavy-duty commercial truck tire sales may decline 3.5 percent to 16,000,000. The original market, the association forecasts original tires card market this year, sales fell 11% to 41,000,000, a 11-year low. As the economic recovery is not timely, as well as a large number of imports of light vehicles, tires original card market in 2009 will continue to decline 3 percent. The original light truck tire market, sales declined even more, to fall by 35% to 28,000,000.
Chinese enterprises are cold tires
In the first half of this year, rising raw material for Chinese enterprises tire pressure, the downward trend in product gross margin was obvious. According to the branch of tires on 42 members of the statistics, the overall industry profits decline, loss-making enterprises amounted to 9, for the most in recent years. The global vehicle sales and use of the downturn to make more Chinese tire exports continue to slow down significantly. According to customs statistics, in July of the National Tire tire exports fell 0.7 percent; 1 to July cumulative export volume growth of only 3.8 percent year-on-year, with the same period of last year's 24.6 percent growth to form a great contrast. Tire finished goods inventories increased, the tire industry sales of the top six business inventories rose sharply last year, an increase of 30%, up to 58%. Industry-wide stock average 31.8 percent increase over the previous year. The increase in inventory will have an impact on the use of corporate funds. Once funding chain, the consequences would be unthinkable. Most tire companies can take measures to stop production and a half, some of the projects have to slow down the tire, the tire business is to prepare for the winter.
In the recent period, the tire companies have released statements in the first half of 2008 and the outlook for the second half. The world's leading tire companies generally decline in earnings, the majority of Chinese enterprises tire sales slowdown in the growth of benefits also fell. The world's leading tire companies generally agreed that for some time to come tire production supply and marketing situation is not optimistic. U.S. Rubber Manufacturers Association forecast that the U.S. tire sales to fall by 4% to 298,000,000, and in 2009 the market's downward trend in the tire change. Tire companies have a hard time, needs to be prepared for the winter.
Tire companies generally poor performance
World-class tire company after many years of good life, the prevalence of inflection point this year, sales growth, earnings decline. Bridgestone in the first half of this year, sales rose 2%, 30% of its profit to drop substantially. That the company's raw materials, high energy prices and the economic downturn, irreversible, and other short-term, it is expected to substantially lower this year, forecasting a profit this year than last year dropped 50%. Michelin that raw materials costs more than all expectations, the company led to the rise in cost of sales, cash flow is also affected by the increase in inventory is reduced. In the first half of the company's sales growth of 2.0 percent, operating profit fell 2 percent. Cooper Tire & Rubber Company announced that the first half of this year 1,500,000,000 U.S. dollars has been achieved record net sales, but a net loss of 21,000,000 U.S. dollars, compared with the same period last year while net earnings 38,000,000 U.S. dollars. Yokohama, the company said in the first half of this year to take to improve productivity, cut costs and a series of positive measures, it is still unable to digest the rising costs, has reached the tolerance limit. Hankook Tire in the second quarter of this year, despite sales growth of 16%, but operating profit fell, it was estimated the cost of raw materials than last year, up 24.3 percent.
The North American market shows signs of winter
North America is the world's largest tire production and marketing of the region, the world's barometer of the tire situation. As the U.S. sub-loan crisis and the deteriorating economic situation, the direct inhibition of the automobile demand. Relevant data show that the United States in the first half of this year, new car sales year-on-year decline in more than 17% to its lowest point this century. Lead to low demand for automotive tire sales in North America continued to decline. Bridgestone, Michelin in the first half of this year in the United States, there has been a marked decline in tire sales. In addition, the Rubber Manufacturers Association of the United States believes that by using fetal retail market this year will be reduced by 1% to reach 202,000,000. As the U.S. economy in 2009 will be in dire straits, take the child to use the retail market sentiment improvement. 2008 young-child card retail sales to fall by 7% up to 32,000,000, will continue to decline next year by 5%. In the replacement tire market, medium / wide-base / high-speed heavy-duty commercial truck tire sales may decline 3.5 percent to 16,000,000. The original market, the association forecasts original tires card market this year, sales fell 11% to 41,000,000, a 11-year low. As the economic recovery is not timely, as well as a large number of imports of light vehicles, tires original card market in 2009 will continue to decline 3 percent. The original light truck tire market, sales declined even more, to fall by 35% to 28,000,000.
Chinese enterprises are cold tires
In the first half of this year, rising raw material for Chinese enterprises tire pressure, the downward trend in product gross margin was obvious. According to the branch of tires on 42 members of the statistics, the overall industry profits decline, loss-making enterprises amounted to 9, for the most in recent years. The global vehicle sales and use of the downturn to make more Chinese tire exports continue to slow down significantly. According to customs statistics, in July of the National Tire tire exports fell 0.7 percent; 1 to July cumulative export volume growth of only 3.8 percent year-on-year, with the same period of last year's 24.6 percent growth to form a great contrast. Tire finished goods inventories increased, the tire industry sales of the top six business inventories rose sharply last year, an increase of 30%, up to 58%. Industry-wide stock average 31.8 percent increase over the previous year. The increase in inventory will have an impact on the use of corporate funds. Once funding chain, the consequences would be unthinkable. Most tire companies can take measures to stop production and a half, some of the projects have to slow down the tire, the tire business is to prepare for the winter.
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