Gfk: “Russian tyre market may shrink by 20% in 2015”

Gfk: “Russian tyre market may shrink by 20% in 2015”

RusAutoNews.Com – The survey, conducted by the marketing company GfK, predicts a 20% shrinkage for Russian tyre market in 2015. The aforementioned survey reminds that the market shrinkage had started in 2014 (-17.5%). It has been observed that the pace of the Russian tyre market had slowed down in 2013, following the boom years of 2011-2012. The decline in new automobile sales is the main reason behind the shrinkage.

The survey also highlights the shift of the tyre supply channels from a high number of small-scale commercial points to a few major store chains. However, the competition amongst the online sellers is the key factor, determining the market situation currently. The online tyre sales has increased by 25% year-on-year in 2014. GfK anticipates the rise to continue.

The company analysts expect a shrinkage in the components market as well in 2015, due to the general economic situation and the decline in the automobile market. A shrinkage had been observed in the sales volumes of products such as; auto lights, batteries and window wipers in 2014. One of the sharpest declines has been observed in spark plug sales, with 22%.