Despite the high price fluctuations in the international natural rubber market, the tire industry's performance in the first half of 2011 was still bright, and sales revenue and profits generally increased in tandem. Due to the strong demand for tires in various regions of the world, almost all tire manufacturers are increasing their prices to ensure substantial profits. The world's tire giants continue to see more in the second half of 2011, and tire investment remains unabated.

Michelin’s total net sales for the first half of the year amounted to 10.105 billion euros, a year-on-year increase of 21%, according to the current exchange rate; operating profit before non-recurring income and expenditures reached 971 million euros, an increase of 18.1% year-on-year. Bridgestone’s first-half sales revenue was 1.459 trillion yen, an increase of 5.3% year-on-year; net profit was 54.1 billion yen, a year-on-year increase of 21.6%. Goodyear’s first-half sales amounted to US$11 billion, a year-on-year increase of US$8.8 billion, an increase of 25%; operating income reached US$709 million, a year-on-year increase of 54%; second-quarter sales were US$5.6 billion, a year-on-year increase of 24%. Set a record high for the company’s quarterly sales. Hankook Tire's sales performance in the second quarter was even more encouraging following the encouraging sales of 1.4 trillion won in the first quarter, with sales of 1.58 trillion won, a year-on-year increase of 21% and operating profit of 110.7 billion won. In the first half of the year, Pirelli’s sales revenue increased by 18.7% year-on-year to US$3.87 billion; net profit increased by 47.5% year-on-year to US$228.3 million. In the first half of the year, the sales revenue of the German mainland increased by 17.6% year-on-year to reach US$ 2.13 billion; its pre-tax operating income increased by 26.7% year-on-year to US$ 1.86 billion. Sumitomo Rubber's sales revenue increased by 6.7% year-on-year to US$3.7 billion. Apollo India’s sales revenue increased by 55% year-on-year to Rs. 28.2 billion, and net profit increased by 3.9% year-on-year to Rs. 771 million.

In the first half of 2011, the prices of raw materials such as rubber fluctuate drastically, hitting a record high of 4,35500 yuan/ton, and the tire giants mainly affected the increase in costs by increasing the pricing. Michelin expects that the price increase announced or confirmed by the company in 2011 will offset the annual incremental costs of nearly €1.8 billion. Goodyear emphasizes the continuous development and sale of innovative products in the target market segment, which further promotes the improvement of the product pricing system and product mix. The single-quarter profit in the second quarter has increased by 18% year-on-year. Increased market demand and increased pricing have contributed to the increase in sales revenue. Bridgestone said that despite high raw material prices and the impact of the earthquake in Japan, its products have grown in Europe, North America, and Asia, which has laid a good foundation for the company’s sales revenue and profit growth.

Tire enterprises in the world continue to be optimistic about the situation in the second half of 2011. Mr. Kramer, the president of Goodyear, pointed out: “Although we expect the raw material costs in the second half of the year will increase by more than 30% year-on-year, the slow recovery of the mature market economy and the rising inflation rates in emerging markets will cause irregular growth in the tire industry, but we Still full of confidence, Goodyear, with its good market positioning, tactics focused on specific market segments, and our ongoing efforts to reduce costs and improve productivity, will be able to respond to the ever-changing demand environment." Considering the second quarter Tire sales and the market outlook for passenger car replacement tires in the United States are somewhat sluggish. Goodyear expects its 2011 tire sales growth to be between 3% and 5%. Michelin expects that the market will maintain growth in the second half of 2011, with the growth rate approaching long-term growth. Against this backdrop, the group set a full-year sales growth target of 8%. Mainland companies forecast annual sales growth of 3.5% to reach US$4.2 billion, and pre-tax operating profit growth of 10%.

While the world's tire giants are advancing investment projects as planned, they have recently announced a number of new projects. On June 15, Hankook Tire announced that the groundbreaking ceremony for the construction of its seventh-largest plant in the world was held in Bake West Industrial Area, West Java, Indonesia. The first-phase investment of the factory reached 353 million U.S. dollars and the annual production capacity was 6 million. In order to meet the needs of the rapidly growing tire market in China, Bridgestone recently announced that it will invest 251 million US dollars to expand its production capacity in tire factories in Tianjin and Wuxi. The two plants will add a total of 12,900 new production capacity/day and plan to complete them in the next 9 to 12 months. In addition, Bridgestone also plans to invest US$135 million to expand the production capacity of the Aiken Tire Plant in South Carolina. In 2013, it will increase its passenger and light truck tire production capacity by 4,750 pieces per day. Toyo Tire & Rubber also announced that it will invest US$260 million in the next four years to establish a new passenger and light truck tire plant in Malaysia. The plant has a design capacity of 10 million pieces a year and is expected to start production in 2013.

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