As a result of the emergency that Costa Rica is going through due to the spread of the coronavirus, Bridgestone announced that it will temporarily close its industrial plant located in Belen, Heredia.
The company announced that its plant will remain inactive from March 26 to April 12 and that none of the 1,000 employees working on the premises will be dismissed.
Retail sales in the automotive sector in Central America are predicted to be significantly affected by the covid-19 crisis, which would be partially explained by the drop in tire sales.
From January to September 2019, companies in the region bought new tires abroad for $340 million, 5% more than in the same period in 2018, with Nicaragua and Panama being the markets that increased imports the most.
Figures from the Trade Intelligence Unit at CentralAmericaData: [GRAFICA caption="Click to interact with graphics"]
In the first six months of 2019, countries in the region imported $106 million in bus and truck tires, and purchases from companies in China grew 11% over the same period in 2018.
Figures from the Trade Intelligence Unit at CentralAmericaData: [GRAFICA caption="Click to interact with graphics"]
From January to June 2019, companies from Central American countries imported new tires for $221 million, a figure 3% higher than that reported in the same period in 2018.
Figures from the Trade Intelligence Unit at CentralAmericaData: [GRAFICA caption="Click to interact with graphic"]
In the first three months of 2019, countries in the region imported $518 million in tires for buses and trucks, and purchases from companies in China grew 7% over the same period in 2018.
Figures from the Trade Intelligence Unit at CentralAmericaData: [GRAPHIC caption="Click to interact with graphic"]
Bridgeston announced that it will build an electric substation in Costa Rica at its tire production plant, which is located in Ribera de Belen, Heredia.
The company dedicated to the manufacture of tires reported that the Costa Rican Institute of Electricity and Siemens, will be in charge of the development and installation of this new substation.
From January to March 2019, companies in Central American countries imported $108 million worth of new tires, a figure 3% higher than that reported in the same period in 2018.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAPHIC caption="Click to interact with graphic"]
In the first nine months of 2018, countries in the region imported $158 million in tires for buses and trucks, 5% less than reported in the same period in 2017.
Figures from the Trade Intelligence Unit at CentralAmericaData: [GRAFICA caption="Click to interact with graphics]
Between January and September 2018, countries in the region imported $323 million in new tires, and purchases from companies in Thailand increased 19% over the same period in 2017.
Data from the Trade Intelligence Unit at CentralAmericaData: [GRAFICA caption="Click to interact with graphics]
In the first half of 2018, countries in the region imported $103 million in tires for buses and trucks, 7% less than reported in the same period in 2017.
Figures from the Trade Intelligence Unit at CentralAmericaData: [GRAFICA caption="Click to interact with graphic"]
Between January and June 2018, countries in the region imported new tires for $215 million, and 13% of the total was purchased by Auto Centro, Mizpa, Grupo Q, Vitatrac and Central Lubricants.
Figures from the information system on the New Pneumatic Tire Market in Central America compiled by the Business Intelligence Unit at CentralAmericaData: [GRAFICA caption="Click to interact with graphic"]
In Alajuela, Costa Rica, a plant dedicated to the recycling of vehicle tires will start operating, with the capacity to process 10 tons of used tires per hour.
The company owning the project is Costa Rica's Multiservicios Ecologicos, which invested approximately $3.6 million in the new plant that will produce raw material for the construction of roads, trails, stables and synthetic fields.
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