BEIJING—China's tire exports took a hit in the first quarter of 2020, according to the General Administration of Customs, but March offered signs of hope for the industry.
China exported 102 million units in the first quarter of 2020, reflecting an 11.3 percent drop when compared to the first quarter of 2019. The weight and value of those exports also dropped—about 7 percent and 13 percent, respectively— compared to last year. In 2020, China shipped about 1.3 million metric tons of tires, worth around $3 billion.
China saw encouraging industry signs during the month of March. During the month, the country registered a 0.9 percent increase in exports to 42 million units. And while export value fell 4.5 percent, to $1.3 billion when compared to March 2019, tonnage volumes climbed 3 percent to 1.3 million tons.
The country's export of four-wheeler tires in the first quarter reached 1.2 million tons, down by 6.4 percent year on year. The value of such exports dropped 12.7 percent to $2.6 billion.
During March, China exported 528,000 tons of four-wheeler tires, up 4 percent from a year ago. In terms of value, the exports were up 3.6 percent year on year at $1.2 billion.