US Tire Industry Network reported recently that the world's 75 largest tire manufacturers' total sales of tires in 2011 increased by 22% from the previous year, most of which was stimulated by rising raw material costs, allowing higher wholesale sales prices Continuation caused.
However, unit sales during this period showed low or no growth, and major tire manufacturers reported most of their recent financial statements. According to the "Top 75 Global Tire Manufacturers" ranking, the consolidated sales of these listed companies amounted to 187.5 billion U.S. dollars.
After the tire industry stabilized in 2008 and 2009, the fiscal year 2011 showed a 20% increase for the second consecutive year. This growth continued until the first half of 2012. In the middle of this year, some of the world’s largest tire manufacturers reported double-digit revenue growth, although unit sales were not satisfactory.
For the fourth consecutive year, Bridgestone topped the list of 75 tire companies. Despite the impact of the Great East Japan Earthquake in May 2011, the Japanese company's tire sales still increased by about 7% year-on-year to $28.5 billion.
Michelin continues to be ranked second, with Bridgeburg, which is worth $27.4 billion, and sales growth is about 12%. The third-place sales of Goodyear grew nearly 21% to $20.5 billion, which is twice that of the fourth German mainland group.
Pirelli, Sumitomo Rubber, Yokohama Rubber, and Hankook Tire maintained their rankings from the 5th to the 8th in the list for the past few years.
Among the top 12 companies, China Taiwan Magisi International/Zhengxin Rubber Company jumped to 9th place with sales of 30% to US$4.26 billion, which replaced Cooper Tire. South Korea’s Kumho Tire Company regained its 12th place ranking, surpassing China’s Hangzhou Zhongce Rubber Company.
Toyo Tire & Rubber Co., Ltd. has further consolidated its 13th position by acquiring Malaysian Silverstone Tire Company ($140 million in annual sales) and its subsidiary, Shandong Yinshi Luohe Company, 75% of its shares last year.
Giti Tire's ranking rose to 14th and its sales reached 2.9 billion U.S. dollars. Of the company’s sales, Indonesian tire manufacturer Gajah Tunggal contributed more than US$1 billion, as GTL Tire owns 49.8% of the shares.
If you combine sales considerations, Giti Tire's ranking will be the 10th, between the Margis International and Cooper tires. But it should be noted that about 12% of GajahTunggal’s sales of US$1.24 billion last year, or about US$150 million, should be attributed to Michelin because Michelin owns 10% of its shares.
Similarly, Bridgestone’s sales growth was due to its 43% stake in Turkey’s BRIS?A/Bridgestone-Sabanci Tire Company (ranked 34th with sales of US$896 million). And its 19% stake in Finland's Nokia Tire Corp. (18th for sales of $1.83 billion).
The current major change in the global tire industry can not but consider Pirelli to enter Russia. The Italian tire manufacturer formed a joint venture with Russian Technology National Corporation to take over the tire assets of the former Amtel Holdings and Sibur Holdings, with annual sales of approximately US$430 million.
Titan International, a specialist in engineering tires, agricultural tires and wheels, performed exceptionally well. With the new sales of the former Goodyear Latin American agricultural tire assets taken over in the first quarter of 2011, it ranked 9th in the Top 75. Ranked 27th.
In the 2011 rankings, 29 tire companies had sales of US$1 billion and four tire companies had sales exceeding US$900 million. Among them, the tire manufacturers "Big Three" - Bridgestone, Michelin and Goodyear's total sales of 76 billion US dollars, or accounting for global tires estimated 40% of total sales.
The top ten largest tire manufacturers have sales of US$125 billion, or two-thirds of the global tire market.
This year's list of the world's top 75 tires in the list of five Chinese companies: Shandong Hengfeng Tire Co., Ltd., Jiangsu General Tire Co., Ltd. Shanxi Shuangxi Tire Co., Ltd., Henan Friends Tire Co., Ltd., Xinjiang Kunlun Tire Co., Ltd. In addition, after a few years of silence, U.S. Special Tire Company once again returned to the top 75 list.
The companies that withdrew from the ranking are: Tunisia Societe Tunisiennedes Pneumatiques Tire Company, Iran Artawhee Tire Company, Larsen Tire (India) Company, India Poddar Tire Company, Ukraine JSC Rosava Company, Guangzhou Pearl River Tire Company. Either a larger company has taken over its position or has not obtained reliable financial information from these companies.
From a profitability perspective, the 2011 rankings are even more reliable as the 20 largest companies provide sales revenue and profit data. The average pre-tax operating margin of the top 20 was 8.7%, which was a year-on-year increase of 0.7 points; the average net income ratio was 4.6%, which was more than one point higher than the 3.3% growth in 2010. Only two of the top 75 companies had deficits in fiscal 2011, namely Korea’s Kumho Tire Company and India’s JK Tire Industrial Company.
From a revenue perspective, Nokia Tire has generated the highest and record operating income (26.1%) and net income (21.1%). The revenue/sales ratios of Magisi International, Hankook Tire, Continental Group, Shandong Linglong and Pirelli also reached double digits.
In the global ranking of 75 tires in 2012, a total of 32 Chinese companies were shortlisted—27 in Mainland China (including 5 of the top 20) and 5 in Taiwan Province of China. There are 11 in India, 5 in the United States, 4 in Japan, 3 in Italy, 2 in Russia and South Korea, 2 in Indonesia, 2 in Thailand and 2 in Turkey, and 1 each in Argentina, Belarus, Czech Republic and France.
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