SmarTire Systems Inc. has announced that it has seen increased demand for its aftermarket tire pressure monitoring products
in the Chinese market.
Shipments to Chinese distributors accounted for approximately 40% of global
aftermarket sales in the fourth quarter of 2003, versus about 15% in the third quarter.
"We are very pleased with the initial success that our products have enjoyed in China," says Robert Rudman, president and CEO of SmarTire. "Our Chinese distributors have demonstrated strong commitment and support for our tire pressure monitoring systems. The Chinese distribution network is a key component of SmarTire's emerging global sales strategy."
In 2002, almost 3.25 million vehicles were sold in China. It is estimated that the Chinese market will reach 5 million vehicles a year by 2020, making it third in the world after the U.S. and Japan.
SmarTire Systems Inc. develops and markets proprietary tire monitoring systems for the transportation industry worldwide. Incorporated in 1987, SmarTire is a public company with offices in North America and Europe. Additional information can be found at www.smartire.com.