Sales of car tires in Russia and the Commonwealth of Independent States are likely to grow by some 40% over the next five years, the regional head of Cie Generale des Etablissements Michelin told journalists Thursday.
Michelin, whose factory outside Moscow has a capacity of 2 million tires a year, expects the market for replacement car tires to expand to 51 million by 2015, from 36.5 million in 2009.
The French company also expects demand for truck tires, both as replacements and for new vehicles, to total 9.3 million in 2015, up more than 50% from current levels.
Michelin has invested $100 million in its Russian factory, which supplies replacement car tires to retail outlets around the country, as well as providing tires for new cars made by Ford Motor Co. and Toyota Motor Corp.
Almost two thirds of car tires and 80% of truck tires sold in the CIS are made by local companies. Michelin and Finland's Nokian Renkaat Oyj are the only international tire makers with factories in Russia.
(Source: http://irco.biz)
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