In August 2023, there was a consistent uptick in the sales of light vehicles globally, marking the sixth consecutive month of growth. These sales surged by 9.6% when compared to the same period the previous year, reaching a total of 7.3 million units. Furthermore, when we consider the period from January to August, cumulative sales displayed a notable increase of 10.3% in comparison to the equivalent time frame in 2022. This expansion in vehicle sales is reflective of the overall positive trajectory of the global economy.
Concurrently, domestic tire manufacturers are witnessing heightened production activity, with foreign trade tire exports steadily rising month after month. Due to this surge in demand outpacing supply, numerous tire companies have made the decision to raise their prices to cope with the increased market pressure.
