Nokian Tires has managed to increase its market share in Europe, and the company recently reaffirmed its medium-term goals (3-5 years) of capturing and accelerating high value-added opportunities in Europe and increasing overall business with up to 50%. In terms of tires, this means an increase of six to nine million tires sold per year.
“Despite the unusual circumstances brought by covid-19, our team did a great job, and its market share increased significantly. We are moving confidently towards the overall goal of 50% growth, “said Barry Kurta, Senior Vice President, Central Europe.
But what fuels brand growth in Europe?
Changes in the tire business are driven by two major consumer trends: comfort and sustainability. In practice, this means increased demand for all-season tires and larger rims. The company’s “fortress” is Eastern Europe, where it will take advantage of its strong winter positioning, but experts are of the opinion that all-season tires will become more and more popular in Central and Eastern Europe.
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