Heavy truck sales down? How is the heavy truck tire market?
In July 2024, China heavy truck market sales were about 59,000 units (wholesale basis, including exports and new energy), down 17% from June and down 4% from 61,300 units in the same period last year, a decrease of about 2,000 units. From January to July 2024, my country’s heavy truck market sold approximately 563,500 vehicles of various types, up 2% from the same period last year, with a net increase of nearly 14,000 vehicles, and the cumulative growth rate further narrowed compared with January to June.
Sales of heavy trucks are not impressive, and the all steel tire market is even more perilous.
The era of foreign investment ends
As tire companies announced the closure of China’s commercial vehicle supporting sales business, as well as the closure of ordinary Shenyang factories. This marks that one of the most important players in the field of foreign-invested all-steel tires in China has also withdrawn from the Chinese market. Foreign-funded tire companies have started the Chinese all-steel tire business, which is an indispensable and important part of the Chinese all-steel tire market. Its high quality outshines almost all competitors, and safety tires must be the first choice for transport fleets that value safety.
There is no denying that Chinese tires are indeed making progress, and the product quality of many best heavy duty truck tires companies can now compete with foreign brands. But what is sown will have results, and cost-effectiveness will always be the label that cannot be removed on China’s all steel tires. The domestic all steel tire market has been developing ruthlessly for a long time, and the response is slow in the crisis. In the current weak market, both the original equipment market and the replacement market of all-steel tires are not optimistic. At the same time, the export market may be affected by double expectations, or it may not be able to hold its head due to soaring freight rates. The double attack at home and abroad makes the all-steel tire market in trouble.
What’s next? Heavy truck sales are weak and the all steel tire market is highly competitive.
It can be predicted that in a short time, the survival of the all-steel tire market will still be difficult!
Despite the cold market, Lotour tires are still selling well.
The production line of the factory has not stopped, and it is being exported to North America, South America, Southeast Asia and other regions. The main sizes are 11R22.5, 295/75R22.5, FR966, FR208 and other models. Shallow grooves in the tread provide strong grip and anti-slip. Widened driving surface, uniform contact pressure, stable and comfortable driving performance. Wide shoulders and unique thin transverse grooves provide running cooling and reduce uneven wear. These characteristics help the LOTOUR brand to maintain a solid position in the export market. The brand is growing steadily.
