Chinese tire production increasing 7% annually.Tire production in China for motorized mo·tor·ize tr.v. mo·tor·ized, mo·tor·iz·ing, mo·tor·iz·es 1. To equip with a motor. 2. To supply with motor-driven vehicles. 3. To provide with automobiles. vehicles is projected to increase at a compound annual growth rate of 7%, from 106.5 million tires in 1999 to 150.3 million units in 2003, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a recent study by Smithers Smithers is a surname, and may refer to: People People with the surname Smithers
The study projects different annual tire production growth rates Growth Rates The compounded annualized rate of growth of a company's revenues, earnings, dividends, or other figures. Notes: Remember, historically high growth rates don't always mean a high rate of growth looking into the future. during the forecast period for each of the five tire categories - passenger cars, 7.7%; light trucks, 5.4%; truck/bus, 3.5%; farm vehicles, 12.1%; and motorcycles, 3.6%. After tires, the other main rubber product categories accounting for the majority of production in China are belts, hoses and rubber footwear Footwear consists of garments worn on the feet. It is worn for a variety of reasons, including protection against the environment, hygiene and adornment. Usually, socks and other hosiery are worn between the feet and the footwear, except for sandals and flip flops (thongs). , the Smithers study said. Vehicles in use have a greater impact on demand for tire and rubber products than vehicle production because of the replacement cycle, according to the study. The high-growth segments for vehicles in use are farm transportation vehicles, passenger cars and motorcycles. This is due to the higher sales volume on a relatively smaller vehicle population base in each category. |
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