The choice of the tire industry in 2023, price, quality, order, or wait.

     Although the Covid-19 epidemic is over and the Chinese government has opened up to the world at the end of 2022, many tire companies in China are still facing the problem of reduced orders. More than half a year has passed in 2023, and the global tire market is still very weak. Now many exporters including factories and trading companies are facing the problem of choice.
     Many exporters choose to occupy the market first with very low prices, but low prices mean that the quality must be reduced, because the profits of Chinese suppliers have been compressed to a very low level under the market competition a few years ago. So if you lower the price, you can only sacrifice quality. This option will definitely win a lot of customers in the short term, but it is still a very risky decision. Because after the importer sends these cheap tires to each end user, after the test of time, these tires are not durable, and they do not save money from the perspective of value but increase a lot of unforeseen costs, so end customers will Lose trust in importers, because reputation is very important, and importers have affected their business by choosing cheap tires from these speculators, then exporters have also lost trust in them. So it's a vicious cycle.
     Choice really matters! Adhering to the principle is painful, because when many suppliers sell low-quality tires, the orders of suppliers who insist on making high-quality tires will become very few. But from the perspective of long-term interests, sticking to the principle, making high-quality tires, and pricing them reasonably will win the final victory. Because when the exporters who sell cheap quality tires are abandoned by everyone, the business will come back.
     The choice really matters! Adhering to the principle is painful because when many suppliers sell low-quality tires, the orders of suppliers who insist on making high-quality tires will become very few. But from the perspective of long-term interests, sticking to the principle, making high-quality tires, and pricing them reasonably will win the final victory. Because when the exporters who sell cheap quality tires are abandoned by everyone, the business will come back.
     Dear friends, whether you are an exporter or an importer, what is your choice?

Elvis Yu
July 31, 2023
Qingdao Wangyu Rubber Co., Ltd.

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