Nokian Tyrer

Nokian Tyrer Overview

Company Headquarters: US

Founded: 1988

Workforce: ~ 4,900

Company Working:

Nokian Tyre develops as well as manufactures innovative tires for offering sustainability, predictability, and safety. The company develops as well as manufactures high-quality all-season tires for passenger cars, vans, and SUVs. Nokian Tyres produces passenger car tires in production units in Nokia, Dayto, and Finland, US. All heavy tires are produced at the Nokian factory except for tires buses and trucks, which is designed in Finland as well as produced by off-take contract production in the European Union.

Strategy

Nokian Tyre is continuously working on achieving an innovation-driven competitive edge to provide a more safe, pleasant, and comfortable driving experience. It plans to evolve into a global top-tier business leader by exploring growth and innovation opportunities and developing its core competency. The company focuses on stimulating innovation while seeking an innovative business strategy and developing agility in responding to business risks.

Company Snapshot

$1,778.2M

Revenue

4,900

Employees

1988

Founded

US

Headquarters

SWOT Analysis

Strengths

Advanced technology and innovation in retreading tire market
Focus on the expansion of the business

Weaknesses

Limited potential for growth such as in the emerging countries
Exposure to stringent rules and regulations by the government

Opportunities

Scope for offering customized solutions for retread tire
Partnerships North America is among the growth market

Threats

High competition from major players in the market

Key Developments

Date	Approach	Development
May 2022	Product launch	Nokian Tyres has launched all-season coach tires which are suitable for drive axle, steering axle as well as bogie axles.

Product Offering

Nokian Tyrer
- Tire Retread

Financial Performance

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