October 18, 2021


Automotive maniacs

Michelin retains major place in world tire income

2 min read

Shandong Jinyu due to the fact has opened a plant in Vietnam and proven a U.S. profits business to manage the firm’s Amulet truck tire brand. It debuts at No. 49 with gross sales of $510.5 million.

The other new business is Dongying Fangxing Rubber Co. Ltd., which debuts at No. 46 with revenue of $610 million. It is a producer of passenger, truck and OTR tires based mostly in Guangrao County, Dongying, Shandong. In company since 1998, the organization goes to current market with the Autostone, Hong Ying and Opal brands.

30-a person of the businesses in the leading 75 are from China, such as 3 amid the top rated 20 — Zhongce Rubber Group Co. Ltd. (No. 9), Linglong Team Co. Ltd. (No. 13) and Sailun Team Co. Ltd. (No. 17).

Other international locations represented in the ranking are: India (seven organizations) Taiwan and the U.S. (5 just about every) Japan and South Korea (4 each and every) Italy and Turkey (3 each and every) Iran, Russia, Thailand and Vietnam (two every single) and a person each and every based mostly in Argentina, Belarus, Finland, France, Germany, Pakistan and Singapore.

13 of the 24 publicly traded corporations outlined in this report endured tire enterprise sales declines in 2019 as opposed to 2018, whilst two firms — Turkey’s Brisa/Bridgestone (18.7%) and Petlas Tyre Industry & Trade (17.2%) — recorded double-digit progress.

Collectively, the top rated 10 tire corporations accounted for 61% of the world’s tire gross sales previous 12 months, dependent on Tire Enterprise‘ numbers — down two percentage points from the 2020 rating.

All of the businesses that furnished financial info to Tire Company were being in the black on an working cash flow foundation in 2020 versus 2019, while 50 percent of them documented reduce earnings.

Finland’s Nokian Tyres P.L.C., India’s Balkrishna Industries Ltd. and Pirelli & C. S.p.A. all documented functioning ratios of increased than 20%.

On a internet revenue basis, the industry’s more substantial players fared even worse.

The common internet profits ratio for the team was .3%, a virtually 3-stage drop from 2019, as six organizations — Bridgestone, Continental, Goodyear, Kumho Tire Co. Inc., Nexen Tire Corp. and Titan Tire Corp. — reported internet losses in fiscal 2019 and five some others described decreased web earnings.

The normal revenue per personnel for the 24 publicly traded companies that delivered employment data was $191,832, down $20 from the 2020 figure.

Kumho Tire Co. Inc. experienced the optimum sales for every employee at $401,111, in advance of Nokian Tyres P.L.C. at $330,032 Toyo Tire Corp. at $284,973 and Hankook Tires at $273,650.

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