logo
EN
1
min read

ASEAN on my mind: Where are the tire tracks leading us to?

by Jasmine Lim , 19.06.2015

Car tire makers are keen to position themselves in hot new markets, and signs point to Indonesia as an interesting market for replacement car tires. Sales in Indonesia rose by 11% in 2014, compared to 2013.

Which ASEAN markets will follow Indonesia and experience strong growth? And what will this mean for the car tire market in the region?

We've got some thoughts on this based on our retail tracking reports from key cities in Malaysia, Philippines, Thailand and Indonesia, of course.

Across markets - increased competition, lower margins

For starters, we observe across four markets, an increased focus, crowding and variety in the 16-inch car tire segment and others. Seven new players joined the existing 60 brands in 2014, bringing with them more than 400 new model offerings for this particular diameter size alone.

Jasmine Lim, Account Director at GfK Asia, said, "More and more new vehicles “More than 6,000 automotive outlets[i] across the tracked markets are facing the same challenging predicament stemming from this influx of contenders. At the end of the day, the beneficiaries are the consumers in these regions who got to purchase their 16-inch tires for less, since average selling prices fell from US$123 to US$115.”

Does this make your wheels spin?

Learn more by downloading our whitepaper

Get more insights

Jasmine Lim is Account Director for Asia at GfK in Singapore To learn more about our panel, contact us here.

For more about our offerings, visit our Automotive and Retail Sales Tracking pages.

 

[i] Automotive outlets includes: tire specialists, car accessory shops, fast fitters and car garages

Related Posts

Trends and forecasting

Gaining traction: truck tire sales in europe

Read more

1 MIN READ

Retail

Learning from leading edge consumers

Read more

2 MIN READ

Automotive

What can Leading Edge Consumers (LECs) tell us about the car of the future?

Read more

2 MIN READ

Recent Posts

Technology

How to position your brand for success during COVID-19

Read more

4 MIN READ

Technology

The new GfK website and what it means for our brand

Read more

3 MIN READ

Point of sales tracking

Coronavirus impact on the tech market

Read more

3 MIN READ