Goodyear Indonesia, a leading manufacturer and distributor of tires in Indonesia, encountered an interesting, and yet alarming, fact as it is holding its Ramadan Trade-In program (3-18 June 2017) in shopping centers across Jakarta, Bogor and Surabaya. Under this program people can have the tires of their cars checked at the Goodyear booths. So far around 8,000 cars have been checked and apparently 60 percent of these cars had tires that were in a bad condition.

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Three Indonesian tire manufacturers, all listed on the Indonesia Stock Exchange, are showing the same trend over the past year: earnings from the domestic market are rising, while earnings from exports are declining. This could be a sign that Indonesia's domestic automotive market has been improving or the international industry has been weakening (or both). The three tire manufacturers are Gajah Tunggal, Multistrada Arah Sarana, and Goodyear Indonesia.

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Sales of tires in Indonesia are expected to remain bleak in 2016. Azis Pane, Chairman of the Indonesian Tire Companies Association (APBI), said sales of tires this year may only reach 8.5 million units (roughly the same sales figure as in the preceding year), while exports of Indonesian-made tires may fall to 30 million units (from a "normal" figure of 45 million). Domestic tire sales are highly dependent on the nation's car and motorcycle sales. Indonesia's February motorcycle sales declined 5.6 percent (y/y) to 524,864 units in February 2016, after a 17.2 percent (y/y) plunge in the preceding month.

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Growth of Indonesia's tire industry is expected to remain stagnant until at least the last quarter of 2016 as people's purchasing power is weak while the circulation of money is slow amid sluggish economic growth. Domestic sales of tires in Indonesia are expected to reach around 8.25 million tires in full-year 2016. Meanwhile, about 30 million tires are expected to be exported next year. As such, Indonesia's total tire sales are projected to reach around 38 million in 2016.

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Indonesia Investments added the company profile of Multistrada Arah Sarana in our Indonesian Companies section. The company is one of Indonesia’s leading producers of automobile and motorcycle tires. It produces passenger car radial as well as motorcycle radial tires and is an original equipment manufacturer with brands as Achilles, Corsa and Strada. Multistrada Arah Sarana's production capacity of car tires and motorcycle tires were 10 million and 6 million respectively at end-2012.

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In mid-September 2013, South Korean tire producer Hankook Tire, conducted the inauguration of its tire plant in Indonesia. The factory is located in Cikarang (West Java) and is the company's seventh production center in the world: two plants in Korea, three in China and one in Hungary. Annual production capacity of the two factories in Korea reached 46.1 million tires in 2013. Meanwhile, the three factories in China have an annual capacity of 30.8 million units each. In Hungary, annual capacity stands at 12.6 million tire units.

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