Main business indicators of some domestic tire companies turned better in the first two months of this year compared to the same period a year ago, the overall profits grew higher on a yearly basis in particular, according to the Tire Division of China Rubber Industry Association.
Statistics show that in the first two months, the output value of the 42 key members of the division reached 22.83 billion yuan, down 8.08% year on year; and their sales revenue dropped 11.28% to 19.31 billion yuan.
In January-February, the companies’ cover tire output inched up by 0.03% year on year to 51.41 million.
Included were radial tire output of 47.28 million, up 1.49%; all-steel radial tire output, 11.24 million, down 4.74%; and the proportion of radial tires to all tires was 91.96%.
Profits of the 42 tire companies in the first two months rose 67.21% year on year to 604 million yuan and the inventory was down 7.57%, but was up 5.3% from the previous two months.
With regard to the exports, the 42 companies’ tire export delivery dropped 17.31% year on year in January-February and the volume of delivery increased 5.12% to 22.70 sets, including 21.28 million radial tire sets, up 5.42%.
