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Global Market Sales Report for Chinese Passenger Car Tire Enterprises in 2023

China PCR Tire Share

30.12.2023

In 2023, Chinese passenger car tire enterprises have made significant progress in global market sales, thanks to the rapid growth of the automotive industry and the continuous improvement of product quality. This report provides an overview of the global market sales performance of Chinese passenger car tire enterprises in 2023, focusing on their sales revenue, market share, product categories, and sales channels.

Sales Revenue

In 2023, the global sales revenue of Chinese passenger car tire enterprises reached a record high, with a year-on-year growth rate of over 5.2%. This growth was mainly driven by the increasing demand for passenger cars and tire products in emerging markets, as well as the continuous expansion of Chinese tire enterprises' global market share.

Market Share

In the global passenger car tire market, Chinese enterprises have gradually increased their market share in recent years. In 2023, the market share of Chinese passenger car tire enterprises reached 32%, becoming one of the main suppliers of tire products to the global market. This increase was mainly attributed to the continuous improvement of product quality, the optimization of product structure, and the expansion of market share through mergers and acquisitions.

Product Categories

In 2023, Chinese passenger car tire enterprises mainly sold tires for passenger cars, SUVs, and commercial vehicles. Among them, tires for passenger cars and SUVs accounted for the largest proportion of sales revenue due to their high demand in the global market. In addition, Chinese tire enterprises also sold a small amount of specialty tires for electric vehicles, hybrid vehicles, and racing cars.

Sales Channels

In 2023, Chinese passenger car tire enterprises mainly sold their products through independent sales channels and OEM channels. The independent sales channel refers to the sale of tires directly to end users through dealers or retail stores, which accounts for a large proportion of sales revenue. The OEM channel refers to the sale of tires to automakers for installation on new cars, which also accounts for a certain proportion of sales revenue. In addition, some Chinese tire enterprises also sell their products through online platforms and other channels.

Conclusion

In 2023, Chinese passenger car tire enterprises made significant progress in global market sales. However, they still face challenges such as fierce competition from international competitors, volatile raw material prices, and increasingly strict environmental regulations. Therefore, Chinese tire enterprises need to continue to improve product quality, expand market share, and strengthen brand marketing to maintain their competitive edge in the global market.