Online Tire Market Business Growth Statistics and Key Players Insights: Michelin, Bridgestone, BF Goodrich, Goodyear, Hankook

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Online tire sale platform
The online retailing helps in reaching out too many consumers without launching stores and this results in cost benefits which are ultimately passed on to the customers. Moreover, increasing spending on e-commerce platform by OEM’s due to high internet penetration rate will drive the online tire market during the forecast period as well.

Read the source article at openPR.com

Apollo Tyres expands winter range with Aspire XP Winter

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With the introduction of a new winter tyre, Apollo Tyres now offers some 60 winter products. The latest addition to the tyre maker’s cold weather portfolio is the Apollo Aspire XP Winter, which is being rolled out in 23 sizes to cover most popular fitments.

Read the source article at Tyrepress

Apollo Vredestein scaling back tyre production in Netherlands plant

During a conference call held this month, the chief financial officer of Apollo Tyres Ltd. confirmed that passenger car tyre production at the Apollo Vredestein plant in Enschede, the Netherlands would be reduced as capacity for these products grows in the company’s new, more cost-competitive facility in Gyöngyöshalász, Hungary.

Read the source article at Tyrepress

Apollo Tyres: European truck tyre production starting this quarter

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Truck tyre production at Apollo Tyres’ factory in Gyöngyöshalász, Hungary will begin before the end of September. According to Gaurav Kumar, chief financial officer of Apollo Tyres Ltd., production is scheduled to start during the July to September quarter and the ramp-up of truck tyre production will then continue and reach a maximum capacity of 1,200 pieces per day by the end of March next year.

Read the source article at Tyrepress

Maxxis signals India ambitions with first tire plant

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NEW DELHI (NewsRise) — Four years after it entered India, Taiwan’s Maxxis launched its first tire manufacturing plant in the country, intensifying competition in the red-hot two-wheeler market.

Maxxis, a unit of Taipei-listed Cheng Shin Rubber Industry, will initially produce tires for scooters and motorcycles at the $400-million factory in Sanand, a fast-developing auto hub in the western Indian state of Gujarat.

The plant can produce up to 20,000 tires and 40,000 tubes per day, the company said in a statement Thursday.

Read the source article at Nikkei Asian Review

Apollo Tyres empowers rubber tapper’s wives on Women’s Day

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Here is the International Women’s Day gift from Apollo Tyres to rubber tapper’s wives. The company has inaugurated a Rubber Sheet Making Unit, only for women, at Vellavoor in Kottayam, Kerala on March 8, 2018. The unit was inaugurated by Adv S Jayasooryan, Vice Chairman, Rubber Board of India in the presence of the Panchayat President, Rubber Board members and the team from Apollo Tyres.

Read the source article at Rubber Asia

Apollo Tyres lays foundation stone for 7th factory

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After opening its new European factory last year, Apollo Tyres is now focusing on expanding its manufacturing footprint at home. A ceremony was held today to lay the foundation stone of the tyre maker’s fifth plant in India and seventh facility worldwide. The new factory is located in Chinnapanduru, Andhra Pradesh state, and is expected to enter operation in mid-2020. Apollo Tyres is investing close to Rs 18 billion (£209.4 million) in the first phase of the new plant project.

Read the source article at Tyrepress

Apollo Tyres: Stock pick of the week: Why Apollo Tyres is ready for a re-rating

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Though the quarterly numbers for the first quarter of 2017-18 were weak, analysts are hopeful that conditions will improve significantly for Apollo Tyres in the coming quarters. This is because tyre dealers have already started restocking after the first quarter of destocking triggered by the implementation of GST from July 1. 

Similar restocking pick-up in auto sales should help them in the Original Equipment Manufacturer (OEM) sales as well. Replacement demand (69% of industry’s ..

Read the source article at The Economic Times

Global tire rankings: Bridgestone reigns supreme again

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AKRON —Status quo reigned over the 2017 global tire rankings, even as the estimated value of the entire industry declined for a third straight year.

Read the source article at Tire Business

Tire makers commit more than $7.3B on new plants, expansions

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AKRON — The world’s leading tire makers committed more than $7.3 billion in the past year toward new plants and capacity expansions, a measurable drop from record spending of $10 billion-plus in 2015-16 but still ahead of the annualized average for the past decade.

The investment sum was buoyed by nearly $3.3 billion in spending on acquisitions, deals that involved companies with collective annual sales of more than $2.5 billion — including Qingdao Doublestar Tire Co. Ltd.’s still-pending $830 million bid to buy what amounts to a controlling interest in South Korea’s Kumho Tire Co. Inc.

Read the source article at Tire Business