The latest data from the National Bureau of Statistics shows that China's rubber tire casing output in March 2024 was 96.913 million units, a year-on-year increase of 4%. From January to March, China's cumulative output of rubber tire casings was 254.267 million units, a year-on-year increase of 12.7%.
According to relevant estimates, in March 2024, China's semi-steel tire output was 57.34 million units, a month-on-month increase of 46.72% and a year-on-year increase of 3.54%; China's all-steel tire production was 14.34 million units, a month-on-month increase of 70.92% and a year-on-year increase of 1.06%.
It is understood that the overall operating performance of tire companies in the first quarter of 2024 is improving. Many tire manufacturers reported strong orders, especially export business.
Data released by the General Administration of Customs of China on April 18 showed that China's rubber tire exports reached 2.11 million tons in the first quarter of 2024, a year-on-year increase of 6.7%; the export value was 52.631 billion yuan, a year-on-year increase of 4.3%. Among them, the export volume of new pneumatic rubber tires reached 2.03 million tons, a year-on-year increase of 6.5%; the export value was 50.621 billion yuan, a year-on-year increase of 4.3%. Calculated in terms of number of units, export volume reached 155.14 million units, a year-on-year increase of 12%.
Let's take a look at some recent "battle reports" from tire factories:
Guangzhou Industrial Investment Holdings Group's cumulative exports in the first quarter increased by 14.3% year-on-year, of which Wanli Tire increased by 21.1% year-on-year.
Fengyuan Tire Company of Zaozhuang Mining Group had "brilliant results" in the first quarter, with production, sales, and revenue all booming, with an increase of more than 30% compared with the same period last year, and profits have more than tripled, production and sales in March hit record highs.
Chaoyang Long March Tire’s tire sales in the first quarter were 349,600 sets, a record high in history. Its output, sales volume, sales revenue, profit and other operating indicators have steadily exceeded the levels of the same period last year.
Since 2024, Sichuan Haida Rubber Group's average daily output of semi-steel has hit a record high, exceeding expected targets. In the first quarter, output increased by 38% year-on-year, and output value increased by 37% year-on-year.
Yanchang Rubber expects to have a good start in the first quarter, and is expected to achieve "double-half" in half a year and fully complete the full-year goals and tasks.
In the first two months of this year, Shandong New Continent Tire import and export value reached 220 million yuan, an increase of 60.1% compared with the same period last year. At present, there are sufficient orders and in a state of full production and full sales.
Hubei Jintian Tire experienced significant performance growth in the first quarter of this year and achieved a "good start". The company's daily production capacity of all-steel radial tires has reached 4,500 sets.
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