Recently, the reporter was informed that due to the financial crisis, global automakers have reduced their inventory and financial pressures by means of reduced production, and the original tire business has suffered tremendously.
According to Michelin's 2008 financial report, due to the sharp contraction of the tire accessory market in the fourth quarter, sales volume dropped by 16%, which led to a 2.9% decline in its annual sales and a 44% drop in operating profit.
At the same time, another tire supply giant Goodyear also said that due to a sharp drop in global industry demand, resulting in Goodyear's sales decline in the quarter and business losses, coupled with further increases in raw material costs, unfavorable market factors greatly offset the company's continuous improvement in pricing And the positive results created by the product portfolio.
In the face of the currently unfavorable form, Goodyear Asia Pacific president Pierre Corvard and Michelin Group management partner Mr. He Liye expressed that they will strengthen their respective advantages without sacrificing the value of their products, while strengthening Production management and inventory management and optimizing cash flow reduce costs. Goodyear also plans to focus on market demand and launch more and more competitive new products.
At the same time, due to the shrinking demand in the Japanese market in the Asia-Pacific market, major tire manufacturers will pay more attention to China and India, which have strong demand, and expect to maintain stable year-on-year in 2009.
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