The Goodyear Tire & Rubber Co. has reported results for the first quarter of 2018.
“We are pleased with our first quarter results given higher raw material costs and weaker demand than we expected in the quarter,” said Richard Kramer, chairman, CEO and president. “These results were highlighted by our performance in the 17-inch-and-larger segment in consumer replacement, which delivered more than double the industry growth in the U.S. and Europe.”
The year is barely 110 days old, and changes continue to happen within the tire industry at a breakneck pace.
First, Michelin North America Inc. and Sumitomo Corp. of America (SCOA) announced their intentions to combine Michelin’s wholesale distribution assets with TBC Corp., creating a 50/50 joint venture, National Tire Wholesale (NTW). The business, with 144 locations across North America, will distribute nearly 15 million tires.
Days later, Continental A.G. revealed it is considering restructuring to position itself for the upcoming disruption in the automotive industry.
Trucks use an awful lot more fuel than cars. Consequently, the fuel you can save from making small improvements can be massive. That’s what Bob Sliwa aims to do when he sets out from San Diego, Calif., on May 17 in his Shell Airflow Starship record truck. Hauling his full-sized trailer fully loaded to the truck’s 80,000 pounds capacity, he…
Birmingham, UK – Almost 75% of motorway incidents related to tire failure could be prevented if drivers carry out simple checks, according new research by Highways England and Bridgestone.
The 18-month study, released at last week’s Commercial Vehicle Show in Birmingham, found that more than 30 people were killed or seriously injured in motorway accidents in 2016 due to illegal or faulty tires.
The research found that almost three quarters of tire failure samples…
The Board of eTracks is delighted to announce the appointment of Steve Meldrum as its new CEO. Mr. Meldrum has spent the last 13 years as President and CEO of an environmental waste treatment technology company that grew from a start-up organization to an industry leader in the CleanTech space.
Steve has also spent 10 years in Management Consulting roles working closely with many start-ups and global Fortune 500 companies. In addition, he has been a board member for many private companies as well being President of the Board of Directors for a Toronto-based not-for-profit.
Auto component suppliers around the world are tearing themselves apart. They are convinced that by no longer being conglomerates, they will gain favor from investors and industry customers. And so, like amoebas under a microscope, parts makers are splitting in two, separating self-driving operations from drivetrain business units, old technologies from new, or selling off divisions deemed inessential for growth in the new era of electrified, connected and autonomous vehicles.
Goodyear, (GT.O), trading at $27.01, 7.3 times earnings, is benefiting from car makers’ shift toward trucks, for which tires are more profitable, and its earnings per share (EPS) is expected to rise at mid-teen percentages the next two years, the paper noted.