Automotive | Europe’s Automotive Parts Leader: Operating in China for 116 Years, Generated RMB 122.3 Billion in Revenue Last Year

The ‘2026 Global Automotive Supply Chain Top 100’, released by China Automotive News, serves as a key window into the global automotive parts industry. Overall, Europe remains dominant, with 36 companies on the list—three more than last year. Among them, Germany accounts for 16, France for 5, Ireland, Spain, and Italy each for 3, the UK for 2, and Austria, the Netherlands, Sweden, and Switzerland each for 1. Total supply chain revenue stands at RMB 334.36 billion, up 6.8% year-on-year, representing 38.9% of the global total—a 1.8-percentage-point increase year-on-year. Four companies reported revenues exceeding RMB 20 billion. Michelin ranks fourth among European companies on the list, with revenue reaching RMB 21.41 billion. As the world’s largest tire manufacturer, Michelin saw its 2025 tire sales decline by 4.7% year-on-year. Operating profit margin for its automotive and two-wheeler tire business stood at 11.7%, down 1.4 percentage points year-on-year, primarily due to reduced volumes in the original equipment (OE) market and lower sales of the Group’s secondary and tertiary brands. The truck and bus tire business saw its sales profit margin narrow to 4.7%, mainly dragged down by weakness in North America’s OE market. Specialty tire business achieved a sales profit margin of 13.5%. Facing these challenges, Michelin continues advancing its high-value strategy: tires 18 inches and larger now account for 68% of its passenger car tire sales. In the replacement market, sales posted modest growth, driven by its Primacy and CrossClimate product lines. FORVIA ranks third, with revenue of RMB 21.54 billion. Formed in 2022 through the merger of Faurecia and Hella, FORVIA operates across automotive seating, electronic systems, and lighting systems, with 250 manufacturing plants and 78 R&D centers across over 40 countries. On April 27 this year, FORVIA officially sold its interior systems business to Apollo Global Management—a leading alternative asset management firm—for €1.82 billion, marking the substantive implementation phase of its ‘IGNITE’ strategic plan. In fact, the interior systems business is one of FORVIA’s core businesses—ranked consistently among the world’s top three—supplying critical cockpit components such as instrument panels, door trims, and center consoles to major automakers worldwide. Industry insiders note that this move reflects the harsh choices facing traditional Tier-1 suppliers amid the global auto industry’s transformation toward electrification, intelligence, and software-defined vehicles: divesting low-margin, capital-intensive legacy manufacturing operations to focus instead on high-value-added, technology-driven businesses—such as autonomous driving systems, energy management, and intelligent cockpit software.

Rankings | The 2026 Global Tire Top 75 Unveiled: China Claims Half the List; Two Firms Enter the Top Ten

In recent years, Chinese tire manufacturers have accelerated their global production footprint expansion while capitalizing on the growth dividend from new-energy vehicles. Yet, compared with international first-tier giants, significant gaps remain—in premium luxury vehicle OE fitment, global brand premium pricing power, advanced specialty tire technologies, and per-factory profitability. India ranks second, with eight companies on the list. Japan follows closely with four; the U.S., South Korea, and Turkey each have three; Italy, Russia, Pakistan, and Vietnam each have two; and France, Germany, Singapore, Finland, Iran, the UK, and Thailand each have one. Zhongce Rubber and Sailun Group retain their positions within the global Top 10, both achieving double-digit sales growth. Among this year’s Chinese entrants, 22 firms improved or maintained their global rankings. Notably, Doublestar Tire climbed 38 places—benefiting from the successful integration of Kumho Tire (on February 5, Qingdao Doublestar’s acquisition of Kumho Tire received regulatory approval; the deal closed on March 30—the first case in China’s tire industry where a listed company acquired and restructured another listed company, and also the first cross-border acquisition and restructuring of a listed company by a Chinese listed firm). The two companies exhibit strong operational complementarity. Qingdao Doublestar’s core strength lies in truck and bus tires, holding a prominent position in China’s commercial vehicle tire market. Founded in 1960, Kumho Tire specializes in passenger car tires, operating eight production bases and five R&D centers globally. Its low-rolling-resistance tires, airless tires, and smart tires lead globally, and it serves as a key supplier to renowned automakers including Mercedes-Benz, BMW, Volkswagen, Audi, General Motors, Nissan, and Hyundai. Jiangsu General Tire recorded a 24.45% sales increase, climbing from 36th to 30th place; Tianjin Wanda Tire rose five spots; Wanli Tire’s sales grew 22.37%, moving up four places; Shaanxi Yanchang Rubber advanced three positions; and Xiongying Tire, Chaoyang Langma Tire, Bayi Tire, and Huafeng Rubber each rose two places. The combined sales of the Top 10 totaled USD 116.71 billion, accounting for 62.75% of global tire sales. Although Michelin Group was the only company posting a decline, it retained its No. 1 ranking with sales of USD 24.097 billion (approximately RMB 162 billion).

Michelin Posts Slight Sales Drop on Lower Tyre Volumes

21 hours ago

French tyre maker Michelin reported a 0.5% sales decline to €19.18 billion due to lower volumes, while its Polymer Composite Solutions segment grew 21.9%. Price hikes were implemented in response to increasing raw material costs.

reuters

2026-06-25

Michelin to close BFGoodrich tire plant in US by the end of 2028

2026-10-20

Michelin Posts Slight Sales Drop on Lower Tyre Volumes

Michelin Posts Slight Sales Drop on Lower Tyre Volumes

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