Japan’s Yokohama Rubber Co (YRC) has spun off the sales unit of its Vietnam tyre production and sales subsidiary Yokohama Tyre Vietnam Inc. (YTVI) into a new dedicated sales company, Yokohama Tyre Sales Vietnam Co., Ltd. (YTSV). YTSV will begin operations on 1 January 2024 and YTVI becomes a dedicated tyre production company.
Yokohama Rubber considers the ASEAN region to be a high-priority market and regards Vietnam as a growth market within the region.
The company first entered the Vietnam market in November 1997 when it established joint venture tyre production and sales company. In May 2006, it established YTVI as a wholly owned subsidiary and has since raised its presence in the local market by strengthening local production and marketing of Yokohama tyres.
However, considering the rapid increase in demand for radial tyres for passenger cars and trucks in Vietnam in recent years, Yokohama Rubber has decided that establishing separate production and sales companies is essential to expanding its business in Vietnam.
To date, YTVI has been engaged in local production and sales of bias tyres used on motorcycles, small trucks, industrial machinery, and as spare tyres for passenger cars, while also importing and marketing Yokohama Rubber radial tyres for passenger cars and trucks.
The establishment of a dedicated sales company is targeted at expanding sales of Yokohama tyres in the Vietnam market.
The establishment of separate tyre production and sales companies in Vietnam is Yokohama Rubber’s latest initiative to promote product and regional business strategies focused on increasing sales of tyres that respond to specific trends in each regional market.
Located in Ho Chi Minh City, Vietnam, the new firm will focus on sale of bias tyres used on motorcycles, small trucks, industrial machinery, and as spare tyres for passenger cars, and the import and sale of radial tyres for passenger cars and trucks.