LatAm market presents challenges, opportunities
LatAm market presents challenges, opportunities Kathy McCarronTire Business Click here to see article The Latin American (LatAm) tire market is entering a period of steady expansion, offering both opportunities and challenges for global tire makers. In our Sept. 8 issue, the Tire Business team looked at how our Southern neighbors are evolving. First off, despite our generalizing the market for the sake of better understanding the region, it’s important to remember that LatAm is diverse. “The U.S. is a single country with a federal government and common rules,” explained Eduardo Minardi, a former Bridgestone executive who now runs Minardi Global. “Latin America encompasses 33 countries, each with its own set of laws, cultures and regulations. There is no single market.” Among the 33 countries, Brazil, Mexico and Argentina represent two-thirds of combined GDP and about the same share of tire demand. Brazil alone accounts for more than 40% of annual tire sales, and the majority of tire production in South America is in Brazil. On average, LatAm consumers buy more tires than the U.S. This is because tires wear faster due to poorer road conditions, inconsistent vehicle maintenance and frequent overloading. Many countries also have a thriving market for used tires. Only about 3% of Latin Americans fall into the “high” income category, compared with 15%-20% in the U.S. As a result, premium tires hold a smaller share than in the U.S., and the replacement market is dominated by value-tier products. Chinese brands have made deep inroads, with imports already accounting for more than 40% of replacement-tire volume in Brazil and Argentina. This wave of low-cost imports has hurt local producers and put pressure on retreading businesses. Meanwhile, tire-maker investment in Mexico is reshaping the market. Sailun and ZC Rubber are building new plants. Pirelli has expanded its plant in Guanajuato. SUVs and pickup trucks are growing in popularity across LatAm, much like in the U.S. In Mexico, SUVs accounted for more than 40% of the new vehicle market in 2024. Another trend reshaping Latin America is digital tire sales. Platforms like Mercado Libre — Latin America’s equivalent of Amazon — now sell more than 10% of all tires in the region, while Brazil’s Cantu Pneus moves over 5 million units annually online. The LatAm tire market is projected to be worth $17 billion in 2024, growing at more than 4% annually through the end of the decade. The aftermarket is the most important driver, projected to expand by 4.4%, as strong vehicle sales continue in Brazil, Mexico and Argentina. Additionally, major infrastructure investments are fueling demand for heavy-duty tires, and strong agricultural activity is boosting sales of ag tires. “Governments and private entities are investing heavily in road networks across Latin America,” according to Expert Market Research (EMR)/Claight Corp. “This surge in activity not only facilitates mobility, but also necessitates the deployment of construction vehicles and heavy machinery.” Yet challenges remain. Manufacturers face cost pressures, currency volatility, import competition and fragmented regulations. Success in the region requires local expertise, flexibility and a clear strategy for balancing volume with value. Premier Media Partner
Birds-eye view of LatAm tire market
Birds-eye view of LatAm tire market Don Detore Tire Business ddetore@crain.com Click here to see article The Latin American & Caribbean Tyre and Auto Parts Expo was held July 9-11 at the Panama Convention Center. PANAMA CITY, Panama — The first thing you notice about the Latin American tire market — at least as part of an exhibiting company attending the annual Latin American & Caribbean Tyre & Auto Parts Expo — is the amount of tire companies. If you think the U.S. market is saturated with tire companies and tire brands — and most every dealer will argue that it is — one trip around the Panama Convention show floor will convince any U.S. visitor otherwise. It’s the difference between watching a single salsa dance move to an entire merengue performance — something, by the way, that organizers routinely provide for their customers. With little or no threat of tariffs or antidumping duties put on tires being sold in Latin countries — other than Mexico, Brazil and Argentina — Chinese tire makers and tire distributors — both those you have heard of and those you haven’t — are looking to gain or establish market share in these countries. I could fill the space on this page by naming all of the Chinese tire companies you likely have never heard of that exhibited at the Latin American show, but here is just a sampling, from A to Z (location in parentheses): Alltruth Ltd. (Shandong); Anji Rubber Industrial Co. Ltd. (Jiangsu); Arivo Tyre Co. Ltd.; Asian Tire International Co. Ltd. (Beijing); Blackarrow Tyres (Guangzhou); Chaoyang Long March Tyre Co. Ltd. (Chaoyang); Cronos Tire Co. Ltd.; Dongying Rungold Co. Ltd. (Shandong); Dongying Sincere International Trade Co. Ltd. (Shandong); Exmile (Jiangsu); New Material Technology Co. Ltd. (Shandong); Hanmix (Qingdao) Trading Co. Ltd. (Shandong); Hongtyre Group Co. Ltd. (Shandong); Hubei Jintian Tyre Co. Ltd. (Wuhan); Jiangsu Donghao Rubber Co. Ltd. (Guangdong); Joyway Industrial Co. Ltd. (Shandong); Kinforest Tyre Co. Ltd. (Guangdong); Sauceman Tyre Co. Ltd. (Hefei); Sichuan Tyre & Rubber Co. Ltd. (Sichuan); Sinatyre International Group Co. Ltd. (Shandong); Tianjin Wanda Tyre Group Ltd. (Tianjin); Ultraforce Offroad Tires Co. Ltd.(Shandong); Weifang Guanqi Industrial Co. Ltd. (Weifang); Xingyuan Tire Group (Shandong); Yuanxin Tire Co. Ltd. (Shandong); Zhaoqling Junhong Co. Ltd. (Guangdong); and Zodo Tire Co. Ltd. (Shandong). I counted nearly 70 tire/rubber tube manufacturers/distributors that exhibited at the Latin American Expo whose company name starts with Qingdao, a city located in the eastern Shandong province of China on the Yellow Sea coast. In addition, nearly 40 other tire/rubber companies were on the exhibition floor whose name started with Shandong. That means close to 120 tire companies from Qingdao or Shandong alone find the Latin American market attractive. By comparison, this publication publishes an annual Global Tire Report in which we rank the Top 75 tire makers globally. To consider that nearly double that amount of companies call two areas of China home is mind-boggling, with the understanding that many of these “companies” don’t operate as others do. Tire companies from other parts of the world also vie for customers by exhibiting in Panama. Companies who call India home have a strong presence, from some of the bigger manufacturers (MRF Tyres, MRL Tyres, JK Tyres) to smaller players (Asian Tire Factory, Bestpatch Rubber, Braza Tyres, TVS Srichakra). Other countries represented by exhibitors at the Latin Show include the Netherlands (AT Bandenexport, TS Tyresupply); the United Arab Emerites (TMA International, Vizzoni Auto United); Poland (Kobat Tyre); Malaysia (Isuka Tires Manufacturing); Denmark (NDI Group); Pakistan (Panther Tyres, Servis Tyres); Singapore (Kinto Tyres); South Korea (Daeho Industry); and Turkey (Ozka Tires). And, of course, many tire manufacturers who are well-known in the U.S. — including Atturo, Double Coin, Linglong, Sailun, Tesche, Triangle and Wanli — had a strong presence at the show. And it was great not only to see Jason Rook of the Independent Tire Dealers Group there, but also one of its members, Dennis Feldman of Long Beach, Calif.-based Performance Plus Tires. Feldman was there promoting Kontio Tyre, a Nokia, Finland-based manufacturer of classic whitewall products. Gustavo Lima, Linda Bassitt and the rest of the crew at the Latin American & Caribbean Tyre and Auto Parts Expo do a great job each year to bring together the major players. The Latin American market is significantly different than that of the U.S., not only in terms of regions within the Latin American region, but also in socio-economic structure. Be sure to check out Eduardo Minardi’s perspective of the Latin American tire industry elsewhere on our website. Minardi, who formerly led Bridgestone’s operations in Latin America, delivered the keynote address at this year’s Latin American Expo. The region is key for manufacturers: Eight plants already produce tires there, including the top five tire makers in terms of global sales: Michelin, Bridgestone, Goodyear, Continental and Pirelli. And Zhongce Rubber Group Co. Ltd. (ZC Rubber) plans to go online with its plant there by year-end. The Latin American tire market is a fascinating part of our business. It will be a region to watch for decades to come. Premier Media Partner
Minardi: Diverse Latin tire market always changing
Minardi: Diverse Latin tire market always changing Don Detore Tire Business ddetore@crain.com Click here to see article Eduardo Minardi speaks at the 2025 Latin American & Caribbean Tyre and Auto Parts Expo in Panama. BUENOS AIRES — Any analysis of the Latin American tire market wouldn’t be complete without detailing the differences between the diverse region and the U.S.Eduardo Minardi, who spent nearly three decades at Bridgestone Corp., including managerial positions in Mexico and Argentina, before starting his own boutique consulting firm, Minardi Global, said it’s vital to understand these differences before examining the Latin American (LatAm) tire business. He noted that the U.S. is a single country comprised of 50 states with a federal government that establishes common rules, despite some differences by state. Meanwhile, Latin America, including the Caribbean, includes 33 countries, each with its own set of rules, laws and cultures, without a single governing body or common market as such.Transactions in Latin America are primarily exports and imports, subject to different bureaucracy, taxes and regulations. Free trade agreements and pacts between countries exist, but no general agreement exists. The economies of Brazil, Mexico and Argentina represent approximately two-thirds of the gross domestic product (GDP) of Latin America, and, according to Minardi, have tariff-free agreements with quotas for the automotive sector, including tires and auto parts. “In fact, the automotive value chain is one of the most streamlined and complementary among these three countries,” he said. The U,S, has signed free trade agreements with several countries in the region, including Chile, Peru, Colombia, Panama, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, the Dominican Republic and Mexico. Mexico most actively trades with the U.S., he said, given the nearly 2,000-mile border with the U.S. “The native races of each region were joined by waves of migration of varying origin, number, and intensity, thus creating a distinct imprint by country or even by subregion, such as northern and southern Mexico or Brazil,” he said, noting it differentiates each not only in their favorite food and music, but also in their business culture. “In short, people talk about Latin America; however there is no unity but rather a collection of countries identified with a name that unites them for geographical and historical reasons,” he said. Question: How different are Latin America in terms of tires? Answer: In terms of typologies, the sizes and types of PS/LT tires sold in LatAm are more similar to those in the European market than in the US. This is due to the nature of the vehicle fleet introduced by manufacturers dominated by Volkswagen, Stellantis (Fiat, Peugeot, etc.), Toyota, Nissan/Renault, and Kia/Hyunday. General Motors and Ford have had manufacturing presence in LatAm for 100 years, with models that are more European for cars and more American for pickups. The truck market is practically divided into two geographic sub-regions: The “southern cone” of LatAm (Brazil, Argentina, and Chile) is dominated by European platforms such as Volvo, Scania, Daimler and Man/Iveco; while northern LatAm (Mexico and Central America) has a greater presence of US brands and styles such as Kenworth, Freightliner and International. As a quantitative reference, we could round annual sales of PS/LT tires in the U.S. to 260 million and those of other categories to almost 80 million, totaling about 340 million units. I make this addition for comparative purposes because there is no precise public data available for LatAm by product category. However, it is estimated that almost 180 million new tires are sold per year across all categories. The reader may be surprised by this figure, given that it is more than 50% of annual sales in the U.S., even though per capita income and the vehicle fleet are much lower. The reason is simple and has to do with greater tire wear due to the lower proportion of paved roads, lower maintenance, the general condition of vehicles and excess loads in some countries that lack controls. There is also an unmeasured market for used tires in some LatAm countries. The vehicle fleet in large cities is more modern and includes a large number of high-end vehicles. In contrast, the suburbs of metropolitan areas, small cities, and rural areas show an older fleet. Similarly to GDP, Brazil, Mexico, and Argentina account for approximately two thirds of the region’s tire demand. Of the 180 million tires sold annually, Brazil demands between 40% and 45%; Mexico between 20% and 25%; and Argentina approximately 10%. This is because these three countries have the largest automotive and auto parts manufacturing infrastructure. Mexico is a party to the USMCA (North American Free Trade Agreement) along with the U.S. and Canada. For tires to circulate freely and tariff-free between these three countries, they must meet a requirement of at least 70% local or regional content (materials and processes). In this regard, Mexico produces and exports a significant proportion of PS/LT tires to the U.S. and imports radial truck tires that are not produced in its territory. Q: How are LatAm consumers similar/different to those in the U.S.? A: To understand consumers it is important to consider the socio-economic structure of both regions. Based on reports from the Pew Research Center and the US Census Bureau and reports from the World Bank and CEPAL for LatAm, the comparison of socio-economic structure of the two is: A look at the income difference between the U.S. and Latin American countires. Consumer preferences are not that different from those in the U.S., at least in terms of the first factor, which is the expectation of “durability.” The difference in the budget allocated to purchasing tires for LatAm consumers means that the “premium” segment is a smaller share than in the U.S. Therefore, LatAm consumers prioritize price to a greater extent. Regarding fleets, the proportion of independent operators or small fleets (less than 10 trucks) is very high, reaching 80% to 95% of the fleet depending on the country. This level of fragmentation makes the “value-for-money” product offering very attractive in LatAm. Traditional
LatAm tire market forecasts modest growth
LatAm tire market forecasts modest growth Kathy McCarronTire Business Click here to see article The Latin America tire market is projected to grow 4% CAGR (compound annual growth rate) to nearly 256.4 million units by 2034, with the aftermarket generating the largest revenue, according to Expert Market Research (EMR)/Claight Corp. The tire market reached around 173.2 million units in 2024. The aftermarket segment is projected to grow by 4.4% CAGR between 2025-34, according to EMR. Meanwhile, Grand View Research projected the Latin American tire market will experience a CAGR 2.6% increase from 2025-30 to reach a projected revenue of $10.5 billion.Individually, Brazil is expected to register the highest CAGR from 2025-30 among the Latin American countries, according to Grand View. The Latin America tire market generated a revenue of nearly $9 billion in 2024, The region accounted for 6.3% of the global tire market in 2024, according to Grand View. The tire market sales are driven by growth in the automotive sector — particularly in Brazil, Mexico and Argentina — rising infrastructural development, technological advancements, increasing agriculture tire demand and expansion of the retail market. Extensive infrastructure projects, including road construction and maintenance, has impacted demand for heavy-duty construction tires, while a flourishing agricultural sector in Latin America has prompted demand for tractor and harvester tires, according to the EMR report. “As governments and private entities invest heavily in the enhancement and expansion of road networks throughout Latin America, there is a corresponding increase in vehicle usage and mobility across the region. This surge in activity not only facilitates the movement of goods and people but also necessitates the deployment of a wide array of construction vehicles and heavy machinery,” EMR said. Vehicle market Much like the U.S. market, SUVs and pickup trucks are growing in popularity in Latin America. Both segments posted record sales levels, with SUVs accounting for 40.7% of the Mexican market, according to the Mexican auto dealers association (Asociacion Mexicana de Distribuidores de Automotores A.C.). Electric vehicle (EV) sales across Latin America reached about 90,000 units in 2023, according to EMR, with Brazil, Colombia, Costa Rica and Mexico leading the way.In Brazil alone, EV registrations nearly tripled, compared with 2022, surpassing 50,000 units and achieving a market share of 3%, EMR said. In Mexico, sales of hybrid and electric vehicles during the first half of 2025 increased 17.4%, to 76,562 vehicles, equivalent to 9.2% of the total vehicles sold in the domestic market, according to the Mexico auto dealers group. Premier Media Partner
Latin Tyre & Auto Parts Expo 2025 Wraps Up with Over 600 Exhibitors and 7,000 Visitors in Panama City
Latin Tyre & Auto Parts Expo 2025 Wraps Up with Over 600 Exhibitors and 7,000 Visitors in Panama City Panama City, Panama – The Latin Tyre & Auto Parts Expo 2025 concluded successfully at the Panama Convention Center, reaffirming its position as Latin America’s largest B2B trade show for auto parts, tires, and lubricants. The three-day event attracted over 600 leading exhibitors and more than 7,000 automotive professionals from around the world. This powerhouse B2B gathering brought together manufacturers, distributors, retailers, and service providers to explore cutting-edge technologies, discover innovative products, and forge strategic business connections that are shaping the future of the Latin American automotive industry. The Expo opened with a ceremonial ribbon-cutting, led by Gustavo Lima, CEO, and featured special guests including Gloria de León, Panama’s Minister of Tourism, and Salo Shamah, Director General of PROMTUR Panamá. Also in attendance were diplomatic officials, chamber representatives, and government delegates from across the region. Expert-Led Conferences Take Center Stage Day Two of the Expo featured a dynamic conference series, delivering exclusive insights into emerging trends, mobility innovation, and the impact of artificial intelligence in the automotive ecosystem. Featured Speakers Included: David Wei, Latin America Sales Director, Sailun Tire David Shaw, Founder, Tire Industry Research Eduardo Minardi, Founder, Minardi Global Jose Moreno, Automotive Tire Service Manager, Tire Industry Association David Stevens, Managing Director, Tire Retread & Repair Information Bureau (TRIB) Alejandro Yépez, Director, Aftermarket Division LATAM, DENSO Products and Services Americas Antoni Diestre, Director Autotecnic LATAM, Benitomo World – GroupAuto Member Sandra Alvarez, Director, GroupAuto Central America, Colombia, Ecuador & Venezuela – Benitomo World Manuel Castelló Monzonis & Daniel Acosta Castro, LATAM Team, Sash Lubricants / Diproaut Powering the Region’s Automotive Business The Latin Tyre & Auto Parts Expo remains the premier B2B platform for driving growth, innovation, and investment in Latin America’s fast-growing automotive sector. With Panama’s strategic location as a logistical hub, the event continues to offer unparalleled access to key regional markets and distribution channels. 📅 Mark your calendars! The 2026 edition of the Latin Tyre & Auto Parts Expo will take place August 12-14, 2026, once again at the Panama Convention Center. For more information, visit: www.latinpartsexpo.com
2025 Latin Tyre & Auto Parts Expo Speaker Lineup Revealed!
2025 Latin Tyre & Auto Parts Expo Speaker Lineup Revealed! Latin America’s Top Tire & Auto Parts Expo Returns to Panama July 9-11! Panama City, Panama March 10, 2025 – This year’s powerhouse speakers—industry leaders, manufacturers, and analysts—deliver cutting-edge insights on trending topics. Mr. David Shaw, FounderTire Industry Research Overview of the Global Tire Business Mr. Eduardo Minardi, FounderMinardi Global Digital Eco-Systems to Grow Sales; The Arrival of AI and Imaging Technology to the Tire Shop Mr. Jose Moreno, Automotive Tire Service ManagerTire Industry Association TIA’s Tire Safety Training Programs Sailun Tire Powering the Future: Innovations in EV Tires by Sailun Tire Mr. David Stevens, Managing DirectorTire Retread & Repair Information Bureau TRIB US Retread Market Update Mr. Alejandro Yépez, Director of the Aftermarket Division for Mexico and Latin AmericaDENSO Perspectives of the Diesel Injector Market in Latin America Mr. Antoni Diestre & Ms. Sandra Alvarez, Director of Autotecnic Latam and Director of GroupAuto América Central | Colombia | Ecuador | Venezuela.Benitomo World- GroupAuto Member AI in Automotive After Sales Mr. Manuel Castello & Mr. Daniel Acosta, Dealers in the Latam ZoneSash Lubricants Collaborative Efforts in Advancing Engine Lubricant Standards”: The role of ATIEL, ACEA, and EELQMS *Speaker list subject to change Limited Exhibitor Booths are Still Available! For more information and to reserve your booth or register as a buyer, visit www.latinpartsexpo.com
Latin Tyre & Auto Parts Expo (held in Panama) has concluded with record setting success
Latin Tyre & Auto Parts Expo (held in Panama) has concluded with record setting success Panama City, Panama – August 6, 2024 — The LATIN TYRE & AUTO PARTS EXPO, held from July 31 to Aug. 2, 2024, at the Panama Convention Center in Panama, concluded with remarkable success, drawing over 7,400 visitors and highlighting more than 650 international exhibitors on over 59,000 m2 of exhibition space. The business-to-business environment enabled everyone to maximize their business potential and explore new opportunities in the Latin American market. At the event, exhibitors had the opportunity to engage in meaningful business negotiations with top decision makers and buyers from all over Latin America, and the Caribbean. Keynote speakers included Eduardo Minardi of Minardi Global and former CEO of Bridgestone Latin America, David Shaw, CEO of Tire Industry Research, and other industry leaders. Minardi also participated in a panel alongside other industry leaders such as Gaston Zelerteins, CEO of Alephee, Matias Borges, CEO of Bravo Digital Solutions LLC, and Keith Ferry, CEO of Cerebrum Sensor Technologies. Other notable speakers included Jose Moreno, Automotive Tire Service Manager for Tire Industry Association, Evaristo Garcia, CEO of Integrate Data Facts, and Alejandro Marquez, Director of Operations for Walker Mexico, each delivering their own presentations and adding valuable perspectives to the expo. We are happy to inform you that the date for the next expo will be on July 9 to 11, 2025. For more information visit www.latinpartsexpo.com and organizers urge companies interested in exhibiting to reserve soon as spaces sell out quickly.
Digital technology as a source of competitive advantage in the tire and auto parts business
We are pleased to share that Mr. Eduardo Minardi, Founder of Minardi Global, will be speaking and facilitating a panel discussion on August 1st, 2024 during the LATIN TYRE & AUTO PARTS EXPO at the Panama Convention Center about “Digital technology to sell more and improve product performance” – how digital technology can be used as a source of competitive advantage in the tire & auto-parts business”
David Shaw discusses updates about the Global and Chinese tire markets
The LATIN TYRE & AUTO PARTS EXPO is the leading exhibition in Latin America for tires and auto parts. Aside from the exhibition, the conference will feature engaging presentations from top industry experts on Thursday, August 1, 2024 at 10:00 am in the Panama Convention Center.
Leaders in the tire & auto parts industry discuss trends
The LATIN TYRE & AUTO PARTS EXPO is the leading exhibition in Latin America for tires and auto parts. Aside from the exhibition, the conference will feature engaging presentations from top industry experts on Thursday August 1, 2024, at 11:00 am in the Panama Convention Center. Among the confirmed speakers at this year’s conference are: Special Guest Speaker Digital solutions are becoming the new fashion in the tire businessRead more – Leer mas Tire Safety Training By Programas de Capacitacion en Seguridad de Neumaticos de TIATIA’s Tire Safety Training ProgramsRead more – Leer mas Panel byMr. Gaston Zelerteins, Co-Founder and CEO, AlepheeThe impact of online sales and supply processes automation in the Latam tire industry Read more – Leer mas Mr. Matias Borges , Founder and CEO, Bravo Digital Solutions LLC The Digital Retail Store is already here and increases sales over 30%Read more – Leer mas Mr. Keith Ferry, Founder and CEO, Cerebrum Sensor Technologies Advancements in intelligent tire sensing technologyRead more – Leer mas FeaturingMr. David Stevens, CEO, Tire Retread & Information Bureau The Sustainable Revolution in Retreading and its Impact on FleetsRead more – Leer mas Mr. Evarista Garcia, CEO & Founder, Integrate Data Facts (IDF)Aces & Pies (the standardized data formats, exclusive to the automotive industry)Read more – Leer mas Mr. Alejandro Hernandez Marquez, Director of Operations for Walker Mexico, Walker Products, Inc.The importance of the oxygen sensor in the exhaust of a vehicleRead more – Leer mas The LATIN TYRE & AUTO PARTS EXPO is July 31-August 2, 2024, and features almost 600 exhibitors and thousands of buyers from all over South America, Central America, and the Caribbean.Register today as a visitor or exhibitor to the expo. Visit our website for more details or email info@latinexpogroup.com