China’s tyre production grows in June

Although Chinese factories produced significantly fewer tyres in the first half of 2022 than in the same period last year, monthly figures released by the country’s National Bureau of Statistics show a return to year-on-year growth in June. A total of 76.98 million tyres were manufactured within China last month, a 1.2 per cent year-on-year increase and 6.75 million more than were produced in May 2022.

Tyre production between the start of the year and 30 June 2022 was, at 417.85 million pieces, 7.6 per cent lower than in the first half of 2021. The H1 2022 decline was most notable in April, when output dropped by 21.3 per cent.

The National Bureau of Statistics attributes the production downturn witnessed in the first half of the year to Covid-related closures, logistical difficulties and weak market demand. It adds that the easing of lockdowns and growing exports in June drove the return to growth.

Export strength

Tyre exports from China were far healthier than domestic sales during the first half of the year. According to figures published by the General Administration of Customs of the People’s Republic of China this month, the country exported 48.68 million pneumatic tyres during June 2022. This unit figure represents a year-on-year decline of 3.6 per cent, but when expressed in volume, the 630,000 tonnes exported during the month is 7.5 per cent higher than in June 2021. The export value amounted to 11.09 billion yuan, a year-on-year increase of 22.6 per cent.

China exported 3.63 million tonnes of pneumatic tyres in the first half of this year, 7.7 per cent more than in the first six months of 2021. These exports were valued at 62.53 billion yuan, an increase of 17.4 per cent.

2021 production

Chinese manufacturers produced a total of 899.11 million tyres in 2021, 10.8 per cent more than in the previous year.