The Indonesian Tire Manufacturers Association (APBI) recently stated that Indonesia's tire market has achieved rapid growth this year thanks to the rapid growth of investment in the automotive industry, the increase in car sales, and the growth rate of Indonesia's economy. . The agency expects the Indonesian tire market to grow at an annual rate of 10-15% this year.
It is understood that the production of automobile tires in the Indonesian market in 2010 increased by 28.8% year-on-year, and that of motorcycle tires increased by 43.2% year-on-year. Among them, sales in the tire replacement market rose by 23.8%, sales in the supporting market (for automotive plants) increased by 54.4%, and tire exports increased by 25.4%.
Recently, Aziz Pane, chairman of the Indonesian Tire Manufacturers Association, once stated on many occasions that due to the increase in car sales in Indonesia, tire sales in the Indonesian market in the first quarter of 2011 increased by 7% year-on-year.
On June 9, 2011, Hankook Tire Co., the largest tire manufacturer in South Korea , announced that the company’s new plant in Indonesia has officially started construction. Hantai said that the factory has invested 350 million U.S. dollars and is expected to be completed in 2014. After completion, the plant will have an annual capacity of 6 million tires for passenger cars and light trucks.
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