14% Growth in Truck Tyre Replacement Segment – Conti Reports
Continental recently reported a 14% hike in the replacement truck tyre market, but says that the growth figures will turn more moderate in the near future.
With Continental reporting such a growth figure, it does seem to point towards its market share on the rise. Moreover, on comparing this figure with the 8% growth of Europe’s overall truck tyre replacement segment, it definitely appears positive. Nonetheless, it seems that the managers at Conti did not want to sound overconfident about the recovery. They preferred downplaying the stats by using phrases like “moderate growth”.
The company’s commercial marketing manager for the UK division, Tracey Hyem, spoke about the same at their annual market trends meeting on December 6 in London. She explained that UK is a key regional market for Conti with this particular tyre segment occupying 82% market share.
Truck Fleet Operators’ Outlook While Purchasing Tyres
Continental, in its consumer research, has identified a potential increase in the impact of tyre labelling. Hence, it’s even more interesting to find out which factors, in general and with reference to tyre labelling, do its tyre-conscious and aware fleet customers consider at the time of buying tyres.
In order to learn in detail about the same, Conti, with Texaco, commissioned a research on truck fleets. Fusion Research, with Chevron Lubricants, carried out the said study. The survey constituted a series of telephonic interviews, involving about 500 fleet companies in the UK, sized ranging from 5 to 51 trucks.
The research results indicated that fleets hardly emphasise on the fuel efficiency criteria, one of the significant ones on the label, while deciding on tyre purchase. Small fleets prioritise price, while medium-sized fleets do consider label performance. Conti reps said that the largest among fleets are increasingly emphasising on label grade attained by the tyres they buy.
However, on the whole, tyre labelling remains only a part of series of factors fleets consider while specifying their tyre requirements. It is noteworthy that a label on truck tyres contains no info about their durability, which is viewed by operators as quite a serious lapse.
42% of the surveyed confirmed that they regularly monitor tyre pressures, suggesting their awareness on economic and ecological advantages of doing the same. A whopping 98% even affirmed being aware of these benefits. However, what remained unexplained was that only 8% confirmed fitting tyres with low rolling resistance currently.
The news is that Conti is about to completely overhaul its range of truck tyres starting early next year. It will launch a series of best performing tyres and new convention for naming its tyres. It will execute the plan in four phases. The first phase has already started with new nomenclature for the “people” segment, for instance ContiCoach. Next will be the “goods” segment, then “construction” in 2015 and “winter” in 2016.
Continental gladly describes this strategic commercial tyres product upgrade move as one of the most comprehensive in its rich history of 140 years. The commercial marketing manager at Conti, Tracey Hyem, calls this time as a really exciting one for their company, with such massive product enhancement across all its sectors.