Growth Despite Challenges: Stamford Tyres Prepares for Tyrexpo Africa
Stamford Tyres International Pte Ltd., a supporter of the Tyrexpo Africa event since its inception 14 years ago, will once again be participating in the event to build its momentum for growth in the African market.
The 2018 Tyrexpo Africa will be held at the Gallagher Convention Centre, Hall 2, in Johannesburg, South Africa, April 10-12.
As one of the largest independent tire and wheel distributors in Southeast Asia, the company began operating its South African (SA) division more than two decades ago to serve the growing demand of the domestic tire market within the African region.
“Tyrexpo Africa has been a strategic platform for us to profile our brand positioning, have conversations with prospects and existing customers, gather feedback on our products and services, and also keep abreast of the latest development in the African market," says Larry Lee, vice president of international distribution at Stamford Tyres. "This time round, we will be introducing four new additions to our portfolio tailored to suit the needs of the African market.”
The Stamford Tyres showcase is designed to be a converging point for its existing African customers to come together and discuss the latest market trends and updates. The SA team is also looking forward to meeting prospects from ambitious African companies that are looking to foster trade partnerships, particularly those who are seeking business expansion beyond South Africa.
On display will be the new entry-level ST22 high performance tire, a new premium truck range from Vietnam, and new Alloy Wheel designs from Stamford Sports Wheels. Stamford Tyres also will unveil its latest premium touring/performance ranges, the Firenza ST06 and ST01A.
Exclusively manufactured in Thailand, the new ST06 and ST01A tires were designed to bring new levels of driving comfort, corning stability, and precision steering experiences to their users.
Concerning the outlook of the African tire and automotive market, Lee says Stamford is closely monitoring the critical developments in the market.
"The African market as a whole remains price-sensitive, and budget tire imports produced by Chinese manufacturers continue to affect the market prices. We are also keeping a watchful eye on the political situation and are aware of the distinct lack of banking facilities and volatile forex exchange in major markets within the African region.
“Also, we have noted that the African market is experiencing tighter cash-flow, which means customers now prefer to buy in smaller, mix and match bulks from South Africa and the UAE," he says. "Coupled with government efforts in tightening the regulation on tire imports, we are seeing a positive progression in terms of tire safety in the African region, albeit an increase in the time taken to import products.” -- John Stone