Recently, the National Bureau of Statistics released the tire production data for October 2024.
According to the data, in October, China's production of rubber tire outer casings reached 94.509 million units, an increase of 5.9% year-on-year.
From January to October, the total tire production in China reached 928.127 million units, marking an 8.9% year-on-year growth.
Overall, both tire production and export volumes in China have shown an upward trend.
In October, tire exports amounted to 56.36 million units, an increase of 15.5% compared to the same month last year.
In the first ten months, the cumulative export volume was 563.95 million units, growing by 10.4% year-on-year.
This year, with a strong tire market backdrop, many listed tire companies have achieved good results.
In the first three quarters, Sailun Tire's total sales volume grew by more than 30%, setting a historic high for the same period.
The company achieved revenue of 23.628 billion yuan, a year-on-year increase of 24.28%, and net profit of 3.244 billion yuan, a year-on-year increase of 60.17%.
Linglong Tire reported revenue of 15.949 billion yuan in the first three quarters, up 9.77% year-on-year, and net profit of 1.712 billion yuan, a growth of 78.39%.
Additionally, companies like Sentury Tire and General Tire have also seen both revenue and profit growth.
