Continental Tires plans major retail expansion in China

Continental Tires, the leading German tire manufacturer, is aiming to become one of China's top three tire makers and suppliers over the next five to six years through an aggressive expansion of its retail network.

Jay Dhillon, the general manager of Continental Tires China, said the company - the world's fourth-largest tire maker - saw rapid growth in its retail operation last year, its "most successful year", adding a further 1,000 authorized franchised stores giving it a total of 2,500.

It also expanded its production capacity during the year, investing $175 million in the second phase of its plant in Hefei, Anhui province.