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US Imposes 35% Tyre Tariff, China Plays Chicken

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President Barack Obama’s decision to apply a 35 per cent import duty on all passenger car and light truck tyres from China for a period of three years may have been intended to “remedy market disruption caused by a surge in [Chinese] tyre imports” into the US, but it has also provoked a sharp response from the Chinese ministry of commerce and played havoc with the share prices of Far Eastern tyre manufacturers. China’s state media said the US import duties would cost 100,000 jobs and $1 billion (£600 million).

Announcing the decision (on Friday 11 September 2009), the White House explained that the 35 per cent ad valorem levy would be placed in addition to the existing 4 per cent import duty on imports of Chinese-product passenger car and light truck tyres. The duty will reduce to 30 per cent ad valorem in the second year, and 25 per cent ad valorem the third year. The US International Trade Commission had recommended a 55 per cent tariff in the first year, 45 per cent in the second year and 35 per cent in the third year.

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Reifen China 2009 Aims to Connect Far Eastern and European Businesses

At the start of 2009, the Chinese Rubber Industry Association reported that, despite the global economic meltdown, China remains the world's fastest growing market. The Chinese tyre business is reportedly worth about $8 billion and accounts for 9 per cent of the world tyre market share. However with most of the world’s markets either struggling to recover or still nose-diving, the fact that July figures suggest Chinese passenger car tyre OE and replacement demand are actually up 10 and 20 per cent respectively is truly impressive. With this in mind, Messe Essen’s third Reifen China exhibition running from 11 – 13 November is likely to pique the interest of buyers, manufacturers and traders from around the world.

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TGI Releases Statement on ITC Ruling

Tire Group International (TGI) has released a statement outlining a USA based exporter’s point of view” towards the International Trade Commission (ITC) ruling on imported Chinese passenger car and light commercial vehicle tyres. In this statement, TGI indicates it will continue to fight the ITC ruling and says that, after meeting with several state representatives, senators, and following phone conversations with the assistant secretary of Import Administration, the company is able to “shed light on the effect this ruling will have on re-exporters” such as itself.

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Indian Tyre Exports Decrease 12% Between April & December

A marked decline in vehicle sales worldwide together with tighter import restrictions in some countries is being blamed for a 12 per cent decrease in tyre exports from India in the last three quarters. According to India’s Automotive Tyre Manufacturers Association (ATMA), Indian tyre companies exported 2.346 million tyres between April and December 2008, compared with 2.668 million during the same period of 2007. This drop in exports occurred despite a devaluation of the rupee against the US dollar and numerous other major currencies.

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Yokohama to Manufacture Tyres in Brazil, Russia

To meet growing demand in Russia and Brazil, Yokohama Rubber intends to begin manufacturing passenger car tyres in these two countries, with production commencing as early as 2010. Tyre supply in both markets is currently met with tyres manufactured in Japan and the Philippines, however a company spokesman reports that the combination of strong business prospects and the opportunity to avoid high import tariffs has led to the decision to set up local operations.

“It makes more sense to produce tyres there and sell them directly in the region,” he said. “We’ll keep shipping value-added products from Japan. The spokesman added that the facilities in Brazil and Russia will “start small and expand if and when sales increase.”

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80% of Nigerian Tyre Market Imported

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An estimated 80 per cent the 3.3 million tyres used in Nigeria are imported, according to Dunlop Nigeria Plc, Nigeria’s only domestic tyre manufacturer. The company also said over 150 different brands of tyres are imported into the country from Europe and Asia, among others. Dunlop Nigeria Managing Director Mohammed Yinusa blamed the figures on […]

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Fickle Power Supply, Importers Blamed for Dunlop Nigeria’s Woes

The Chairman of Dunlop Nigeria Jabez Lawuyi chose the company’s September 4 Annual General Meeting as the occasion to announce that the country’s chronically unreliable energy supply has reduced the tyremaker’s production and sales capacity by 20 per cent during the first half of 2007.

Nigeria’s unreliable electricity supply prompted Dunlop Nigeria to set up the means to operate using natural gas power several years ago. However, Mr. Lawuyi reported that this alternate source of power has proven to be no more reliable. “The supply of electricity has remained epileptic while that of gas has deteriorated significantly that together has led to a 20 per cent loss in the volume of production and sales of tyres in the first half of the year,” Lawuyi said.

Mr. Lawuyi also used the AGM as a platform to hit out at tyre importers, whom he accused of manipulating import tariffs in order to flood the local market with “substandard and under-priced tyres,” a practice he believes contributed to the closure of Michelin’s Nigerian operations in January. It was also his duty to inform shareholders than the company has achieved an annual turnover of N5 billion (£20 million) and a pre-tax loss of N370 million (£1.5 million).

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Chinese Rubber Association Seeks Lower Import Tax

On 22 March the China Rubber Industry Association proposed a cut in import taxes for natural rubber and a build-up in strategic reserves as a way of protecting the sector from price swings. Chairman Ju Hongzhen told Reuters it wanted import tariffs below 12 per cent as higher rubber prices were squeezing margins at tyre makers. Importers of natural rubber now have to pay either a 20 per cent import tax or a flat tax of 2,600 yuan a tonne.

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Tyre Aftermarket in India Growing: Frost & Sullivan Report

(Akron/Tire Review) A new report from Frost & Sullivan, entitled “Indian Tire Aftermarket,” shows that the Indian tyre aftermarket earned revenues of $1,461.7 million in 2005 and estimates revenues to reach $3,414.6 million in 2012.

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China’s Vehicle Imports Up 72 per cent

Vehicle imports into China totalled 147,000 units in the first eight months of this year, the Xinhua news agency has reported. This is up almost 72 per cent on a year earlier. The imports were worth US$4.84 billoin and most came from Europe, South Korea and the US. Luxury cars and SUVs with engines of over three litres accounted for 49,000 of the vehicles imported. This was up 110 per cent on a year ago. The main buyers of SUVs were described by China’s General Administration of Customs as private mine owners, real estate developers and owners of private entertainment businesses. China lowered import tariffs on cars, cross-country vehicles and mini-buses from 28 per cent to 25 per cent on 1 July.

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Will Continental Withdraw From Russia?

Continental is having “big difficulties in Russia.“ According to German media sources the company’s joint venture with Moscow Tyre Plant (MTP) is both taking longer than envisaged and becoming considerably more expensive. Continental board member, Dr Hans-Joachim Nikolin, has been reported as saying the company is even “seriously” considering the implications of its worst-case scenario, withdrawing from the joint venture.

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