Bridgestone holds 25% of Vietnam’s passenger tire market: exec

Vietnamese consumers purchase approximately 3 million passenger tires annually, with Bridgestone holding a 25% share of the market, said Nguyen Ngoc Dung, senior national sales manager for the passenger tire group at Bridgestone Vietnam.

Tire consumption in Ho Chi Minh City and Hanoi alone accounts for around 40% of the country’s total. There are around 100 competing brands, including a few local manufacturers, Dung told The Investor at the launch event for the company's high-end Turanza 6 tire line in HCMC on Thursday.

According to Dung, two standout features of Bridgestone tires are their durability and their ability to adapt to Vietnam’s unique road conditions.

“Vietnam’s transportation infrastructure is diverse and constantly evolving, especially with the rapid development of highways stretching from north to south. The tropical climate also places specific demands on vehicles and tires, requiring high performance and resilience,” he added.

Bridgestone is one of the world’s largest tire and rubber manufacturers, known for delivering safe and sustainable mobility solutions. Headquartered in Tokyo, it employs approximately 130,000 people and operates in over 150 countries and territories. The corporation's product portfolio includes a wide range of premium tires and advanced mobility technologies.

In Vietnam, Bridgestone Tire Trading Vietnam Co., Ltd. (BSTVN) serves the local automotive market alongside Bridgestone Tire Manufacturing Vietnam Co., Ltd. (BTMV), supplying tires for both passenger and commercial vehicles.

At the 22nd International Exhibition on Machinery and Equipment for the Plastics and Rubber Industry (VietnamPlas) held late last year, Nguyen Quoc Anh, chairman of the HCMC Rubber and Plastics Association, emphasized Vietnam’s emergence as a global hub for tire manufacturing.

Anh noted that Vietnamese rubber and plastics companies are ramping up investments and increasingly incorporating recycled materials to enhance competitiveness and sustainability. Many have secured significant contracts with international partners, further positioning Vietnam as a key player in global tire production.

According to industry data, tire orders in the final months of 2024 rose by 10-15% compared to earlier in the year, while technical rubber orders grew by 20-30%.

This growth is attributed to Vietnamese companies’ proactive approach to sourcing domestic raw materials, which has resulted in competitive pricing and quality that rivals international standards.

Additionally, the post-Covid-19 recovery has accelerated growth in the rubber sector, with forecasts pointing to even stronger performance in 2025.