Cooper Tire: Good Confidence in the Next 3 Years
2010-01-25 Source：www.chinabuses.org
www.chinabuses.org: News from Cooper Tire & Rubber Co., Ltd reports that it plans to generate more than 30 percent of its global sales in China in the next three years. China has robust demand currently and surpasses the United States of America to become the world's biggest auto market this year. Mr. Allen Tsaur, the general manager of Cooper Tire's Asia operations, says Chinese domestic market is explosive and the cake is expanding. He has to grow fast to keep up the pace.
The sale of Cooper Tire & Rubber Co., Ltd in China expects to exceed $600 million in 2009, up 20 percent year-on-year. According to Cooper Tire's short-term plan, it hopes for growth of 20 to 25 percent in 2010. Cooper Tire has very good confidence to complete its sales target in 2010 despite the global economy downturn. It is also optimistic about the prospects for the replacement tire market due to continued growth in auto ownership in China.
Cooper Tire does not believe it is the late comer in Chinese market comparing Goodyear Tire and Michelin Tire. In 2003, it set up a manufacturing venture with Taiwan's Kenda Rubber Industrial Co., Ltd in eastern part of China. In the year of 2006, Cooper Tire teamed up with Shandong Chengshan Tire Co., Ltd to produce trucks and passenger cars and sold tires to China and overseas. The annual production of these two plans reach 11 million units. Cooper Tire currently exports 45 percent of its China-made products. In the next three years, it expects to cut the export volume with 35 to 40 percent because of brisk market in the China.
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