Michelin Develops Chinese Potential Market
20 February 2009
In 1990, the car inventory in China was 5.5 million. Now the number is up to 160 million. The fast developing Chinese market gave Michelin a big sales volume increase.
According to Chinese market, Michelin use different ways to solve problems. In Europe, Michelin usually takes us half a year to make a decision since the market is quite stable and the strategies are often made for the long term. But in China, it may make it in six weeks. The development and changes in China are very fast, so Michelin should make new decisions more actively and specifically.
Michelin's top rivals in China are US-based Goodyear and Japan's Bridgestone. The three brands occupy 60 percent of China's tire market. However, there is still huge potential for Michelin to develop. For example the truck tire market is the largest in the world, while the radial tire only takes 25 percent of the share. Moreover, the passenger and light truck market is held by international brands or local brands, while the truck tire market is dominated by domestic brands. It will be Michelin's target in the future.
Source : english.chinabuses.com
Editor : Frederick
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