GfK Asia Enters the Tire Industry
Friday, April 17th, 2009Initially known to be a familiar figure in the world of scooters and motorcycles, GfK Asia is expanding its niche towards the automotive industry, particularly tires. GfK Asia is expanding its industry sector coverage into automotive; and in South East Asia developments, Malaysia will pioneer its launch. GfK Malaysia will launch its first passenger car tire retail tracking report in June 09 and hope to expand further to engine oil and other replacement parts in future.
GfK Asia Commercial Director, Stanley Kee said, “In Europe, we have been tracking automotive since the 1980s and within automotive sector, Tire is one key focus. About 50% of the world rubber supply is traded via Singapore and recently the International Rubber Study Group (IRSG) has moved its office from London to Singapore. South East Asia key countries such as Malaysia, Thailand and Indonesia contributes as high as 70% of the world rubber supply for tires, confirms the importance of this region to the world of rubber supply. Malaysia is crucial and domineering country in tire trade, and after its launch we plan to roll out Indonesia, Vietnam, Thailand and Korea on top of China, as our initial phase of the automotive business. The second phase would include countries Philippines, Singapore and Taiwan.”
GfK Malaysia sees the region split of spare parts shop, garages and tire specialists excluding car brands service centers concentrating 37% in the Central Region, 26% in the North, 23% in the South, 8% on the East Coast and 7% in East Malaysia. The ratio of 674 automotive vehicle to one spare parts shop, garages or tire specialists, in Malaysia presently indicates good business opportunity but not without steep competition in today’s competitive world.
(Source) Press
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