We at Yokohama Rubber have launched a new medium-term management plan as Grand Design 2020 (GD2020). The plan covers the three years from 2018 to 2020.
Good prospects for global growth in automobile and tire markets
We expect vehicle production to continue growing worldwide, and we expect demand for tires to grow even faster. In preparing GD2020, we have assumed the rates of growth that you see here: 1.9% a year in unit vehicle production and 3.2% annually in tire demand.
Escalating competition in tires
Competition will escalate in our industry, however, as tire makers in emerging economies increase production. And the market share of the industry leaders will decline in terms of value.
■Projected growth: 2016–2024
*1 IHS Global Light Vehicle Production Summary
*2 LMC and Yokohama Rubber
■Share of tire market by value *3
*3 Rubber and Plastics News