TRIB Members address passenger tire retreading.
Press Release Summary:
TRIB Members around the worldÂ were sent short survey asking their thoughts and plans regarding Passenger Tire Retreading. According to their response, the top 3 drivers for passenger tire retreading growth include cost savings compared to new tires, growing export markets, and environmental benefits. TopÂ 3 drivers for tire retreading decline include low-cost/quality new tires, public perception/education, and size proliferation.
Original Press Release:
TRIB Members Respond with Their Thoughts on Passenger Tire Retreading
Recently, we sent a short survey to TRIB Members around the world asking for their thoughts and plans regarding Passenger Tire Retreading. We asked three straightforward questions and we've compiled the results below:
We also asked what Members thought were the main drivers for future growth of passenger tire retreading and the main drivers inhibiting growth:
Top three drivers for Passenger Tire Retreading Growth
Cost savings compared to new tires
Growing export markets
Top three drivers for Passenger Tire Retreading Decline
Low-cost/quality new tires
We included our thoughts on how Passenger Tire Retreading could continue to grow in a recent issue of Modern Tire Dealer and I've excerpted some of those comments here:
Differentiate their retread product from low-cost new tires in a way that is meaningful to potential customers. The environmental benefits of retreaded tires could potentially be an advantage here.
Find a way to once again grow the price differential between retreaded and new tires.
Target a niche market that has a consistent need for low-cost tires in a narrow range of sizes. The investments required for plant equipment and molds to handle a variety of tire sizes can be substantial if there is not careful targeting. Examples of niches that are working today are postal fleets, taxi fleets, winter tires, and enthusiast off-road tires for light trucks/SUVs.
Develop a reliable source of good quality casings. This is a real challenge when economic factors are already leading to increased sales and usage of used tires that could have been successful retread candidates.
Explore alternative distribution channels (such as online) so that retreaded tires are not competing side-by-side with low cost new or used tires.
If you have any other thoughts or questions about Passenger Tire Retreading, please give us a call or send us an email.
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