DRC TIRE EXPORT STATISTICS
DRC TIRE EXPORT STATISTICS 2018 TO 2020
In stage of 2018-2020, DRC tire Vietnam is expected to grow at a rate of 10% / year, higher than the tire world’s average.
DRC Tire export to grow at rate of 10%/year. The main driving force for the growth of the industry comes from the growing demand for passenger and commercial cars.
The demand for vehicles of the people follows the momentum of economic growth along with the determination to develop car companies and supporting companies, DRC Tire ‘ll create strong growth potential for the country’s tire industry.
DRC Tire – Full of safety certificates
DRC’s radial tire currently meet international standards such as the US D.O.T safety standard, the JIS Japanese industrial quality standard and the European EMARK quality standard. Achieving international quality standards is the premise for DRC tire to expand its export market share in the US, Brazil, India and Europe in the future. In general, DRC’s existing and potential markets are imposing additional import taxes to limit tires and tubes from China – DRC’s main rival.
DRC Tire export – competitive advantage compared to China Tire
Currently, the United States is imposing 3 tariffs on radial tires imported from China, including:
(1) 10% import tax compared to 4% for Vietnamese tires.
(2 and 3) on January 30. / 2019 The International Trade Commission believes that the Chinese tire market is being negatively affected by the fierce landing of Chinese products,
So the US officially applies 20.89-63.34% anti- subsidies (countervailing duties) and 9% anti-dumping tax (for tires imported by China-Wide Entity importers, which are subject to anti-dumping duties of up to 22.57%), effective from 15 / February 2019.
In the case that the Sino-US relationship “cooled down”, the US might reduce the tax on Chinese tires.
However, the US government can only reduce the import tax (10%), while the anti-subsidy tax and anti-dumping tax must still be enforced until February 14, 2024 according to the WTO regulations.
Brazil first imposed anti-dumping duty on trucks and cars with diameter 20, 22 and 22.5 inches originating in China on June 18, 2009 according to Resolução No. 33 of the Brazilian Government.
After the synergistic expiration on June 17, 2014, the anti-dumping duty was once again applied by the Brazilian Government to Chinese products on April 29, 2015, with effect for 5 years.
Specifically, the anti-dumping tax rate is 1.12 – 2.59 USD per kg of product. Thus, the anti-dumping tax again expires in May 2020.
However, China now accounts for a very large proportion (30%) of Brazil’s general export, negatively affecting local output.
At the same time, Brazil has recently maintained a “tough” policy on goods originating from China when re-applying anti-dumping duties on heavy steel plates (heavy steel plates – October 1, 2019, a 5-year period). ) and unused fittings (Austenitic stainless steel fittings – July 25, 2019, valid for 5 years).
Therefore, we believe that it is likely that the Brazilian government will re-impose tax on China’s monopoly The time of issuing the Brazilian tax re-imposition policy is expected to be in the period from 9 / 2020 to the end of 6 / 2021.
The European Commission believes that the Chinese Government has taken direct financing actions, reduced import taxes, preferential loans and value added tax exemptions to create an unfair competitive advantage for the Chinese government. domestic tires.
Therefore, the European Union (EU) officially imposed anti-dumping tax on Chinese truck and bus tires from October 23, 2018 and will last for 5 years.
DRC Tire Export to European Market
With International markets, Danang Rubber Joint Stock Company – DRC Tire uses only website:
If you want any support and get the quotation. Contact us 24/7:
Mr.Fast Nguyen – Sale Director
– Whatsapp: +84 906 50 78 79
– Email: email@example.com – firstname.lastname@example.org
– Facebook: https://www.facebook.com/danangrubberjsc
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– Twitter: @drctire
Currently, DRC tire has not had any export orders to the European market.
Meanwhile, the EVFTA free trade agreement between Vietnam and the European Union is expected to take effect in 2020, helping to reduce import tax on car tires and tubes.
In fact, DRC tire export has also sent people to Europe to explore the market as well as to create relationships with a few partners.
With the Chinese tire companies facing many difficulties when being subjected to anti-dumping tax, the European market is also one of the potential markets of DRC tire in 2020.
It can be named markets. potential export markets for DRC tire such as Germany, Sweden and Italy.
In particular, Germany has for many years been the place that consumes the most tires in Europe as Germany is also the leader in the production of passenger cars and is also the place producing the most commercial vehicles in Europe.
The leading truck manufacturers in Europe include Daimler (Germany – 18.4% market share), MAN (Germany – 3.7%), Volvo Group (Sweden – 8.5%) and Iveco ( Italy – 6%).
In addition, the market for replacement tires in the European Union (EU) countries is very large when the car ownership rate in these countries is relatively high.
In fact, 3 out of 10 countries with the largest number of four-wheelers in the world come from the EU, including Germany, Italy and France.
The total number of four-wheel transport vehicles of the above countries is approximately 43% of the total vehicles of the United States.
In the future, if DRC tire export can penetrate a large market such as the European Union (EU), the output for the output will increase as the company expands the current capacity of the radial plant (from 600,000 tires to 1.2 million tires) will be guaranteed.