OREANDA-NEWS From January to September 2024, tire production in Russia increased by 12 percent. This is reported by the Vedomosti newspaper with reference to the Center for the Development of Advanced Technologies (CRPT, the operator of the Honest Sign marking).

Since the beginning of the year, 33.25 million tires have been produced. The majority (78 percent) of them were passenger tires, about 10 percent were truck tires, 8.6 percent were for medium—duty trucks, minibuses and other equipment. The remaining volume consisted of tires for agricultural, forestry, construction, mining and other types of wheeled vehicles.

The total supply on the tire market in Russia amounted to 58.6 million units against 52.6 million in 2023. More than half, or 33.1 million, were produced by domestic factories. At the same time, imports increased by 10 percent, to 25.4 million units.

The weighted average price for new passenger tires in the third quarter of 2024 turned out to be seven percent higher, it rose to 6,367 rubles. Truck tires fell in price to 24,168 rubles per unit (minus eight percent).

Domestic plants are increasing production in all segments in order to obtain a balanced portfolio, which was not the case after the departure of foreign companies and import restrictions, the Cordiant company said. According to Sergey Udalov, Executive Director of Autostat, the trend is associated with the restart of tire factories after the change of owners and the growth of the car market.

According to the analysts of Kontur.Market", which compared current receipts from car shops in September-October with receipts from last autumn, car tires in Russia rose by 23 percent on average over the year. Tire repair services then also cost 23 percent less, being at the level of 2.1 thousand rubles. The expert attributed the increase in the cost of tires to complicated logistics, rising inflation and increased consumer demand amid the withdrawal of a number of Western players from the market.