According to a Japanese News Network news, Japan’s Toyo Tire recently issued a statement saying that the company will plan to promote its “ Nitto Tire †brand , which is best-selling in North America , to the Chinese market.
More than 90% of Nitto Tire, one of Dongyang Tire's brands, produces large-diameter tires that are 17 inches or larger. The factory is located in Sendai and the United States in northeastern Japan. With its unique design, its market share accounts for 75% in North America and 15% in the Middle East. There are also many keen users in Southeast Asia and Japan.
China's rapid economic growth has led to a significant increase in the demand for automobiles. A Singaporean automotive tire company has set up a branch in Shanghai and is expected to achieve at least $100 million in performance by 2016. Similarly, Dongyang Tire is not willing to miss this huge potential market. Toyo Tyko, president of Toyo Tire, met with reporters in Tokyo and stated that “sold in China, where the automotive industry is making rapid progress, is the first step of Toyo Tire's global expansion strategy.â€
It is reported that more than 90% of Toyo Tire's main brand is "Toyo Tire." However, it is expected that by March 2016, the sales volume of the “Nito Tire†brand will increase to 2.6 times as much as the current 2.6 times. The sales ratio also increased from 9% in the same period in March 2011 to 15%. In addition, Toyo Tire will also accelerate its expansion strategy in markets such as Asia, South America, and Oceania. Toyo Tire's goal of expanding the market in China, the world's largest automotive market, is also an important step in opening up the market for developing countries.
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Dongyang Tire main products:
Tires: for passenger cars, trucks, passenger cars, construction vehicles, industrial vehicles, inner tubes; rims;
Chemicals: Earthquake-proof rubber, air springs, rubber-supported foundations for bridges, shock-proof laminated rubber, environmental machines, rubber, resin-lined rubber, resin pipes, heat-insulating panels, waterproofing membranes, metering films for gas meters, industrial rubbers, Urethane products.
Auto parts: shockproof rubber, bumper, seat sponge core, window rubber seals and other rubber, urethane products
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