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Nokian Tyrer

Company Profile Analysis

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Nokian Tyrer - Automotive showcase

Year Founded & Workforce

1988

4,900 Employees

Industry

AutomotiveB2BB2C

Services

Tire Retread
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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

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Key Developments

DateApproachDevelopment
May 2022Product launchNokian 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

Explore key financial metrics, segmented revenue, balance sheet health, and performance trends.

By Business Segment: Sales rose from USD 1,778.2 Mn in 2019 to USD 2,011.9 Mn in 2021.
Nokian Tyrer — By Business Segment
Series (USD Mn)201920202021
Sales1,778.21,542.12,011.9

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