The Chinese companies entail around 22 percent of the world’s top tire companies which means that the Chinese region holds strong presence of local competition and hence, that means in order to establish itself Continental Tires marketing strategy would have to be comprehensive and attractive to potential clients.
An input of around US$3.5 billion has been made within the tire industry of China in the past four years only hinting at the strength that the Chinese market has had on the global market. If one was to examine the trend form 2005 till 2006, the investment in the expansion projects was more than US$ 900 million which hints at the sort of attractiveness that the Chinese market holds for the global markets and the tire manufactures operating on a global scale.
In fact, as of recent China became the biggest exporter to USA which has resulted in a number of companies setting up their operations in China. The lower costs of production have meant that China is in fact the next best destination for all global companies. As not only are the production costs quite low but in fact the large sized population means that the demand is quite high.
In the case of the Chinese industry, the total output of the used tires was equivalent to 330 million automobile tires and by the end of the last year, the auto-holdings of China had come up to 57 million with 170 million discarded tires. The Chinese market holds a lot of potential as each day 1000 new cars come on the roads of China every day. That means 1000 new customers every day whose demand would rise substantially as the tires would get used out with increasing speed.
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