Europe’s automakers are calling for immediate support from the European Union and member states after suffering a production loss that could render companies short of cash in just weeks. In a statement on Tuesday, industry association ACEA demanded “strong and coordinate action” to aid manufacturers, their suppliers and dealers who face a “severe” financial hit.
Reports that the Trump administration was considering a June 1 start date have stirred concern among auto makers, parts suppliers and trade groups that say the deadline, which they say is premature, could disrupt a smooth transition from NAFTA to the new trade deal, especially as the outbreak worsens.
DETROIT — General Motors Co. and Ford Motor Co. have widely touted their commitment to emission-free electric vehicles, but their production plans show a growing reliance on ever-larger gas-powered vehicles. The two biggest U.S. automakers will make more than 5 million SUVs and pickup trucks in 2026, but only about 320,000 electric vehicles, according to detailed production plans for North America seen by Reuters.
WASHINGTON/DETROIT — The $2 trillion economic rescue package before the U.S. Senate would send the federal government to the auto industry’s rescue for the second time in a dozen years. Automakers are fearful of being tagged as seeking a new government bailout so soon after the 2009 government-funded auto restructurings. Detroit has not sought industry-specific assistance and instead made the case the entire economy needs urgent access to liquidity.
Clermont-Ferrand, France – Tire market data as of 29 Feb shows that the Covid-19 crisis has led to a 9% year-on-year decline in the global passenger car and light truck tire market, Michelin has reported.
Meanwhile, worldwide demand for truck tires was down 16% over the first two months of this year as a result of pandemic, according to the French tire group.
Langley, BC (March 16, 2020) Yokohama Tire (Canada) Inc. is making it more attractive to drive into Spring, with rebates of up to $70 on a set of four performance, all-season or light truck tires.
“We want to reward Canadians for making the switch to winter tires by welcoming them to Spring with rebates on our ADVAN, AVID AND GEOLANDAR lines, as well as the PARADA SPEC-X,” said Diana Colosimo, Brand Development Manager for Yokohama Tire (Canada) Inc. “Once the temperature is consistently up above 7 Celsius, it’s time to put away the winter skis, coats and tires and start enjoying the benefits of all-season tires. Switching to all-season tires provides extended tire wear, a serene ride and improved fuel economy, and we’re making it more attractive to choose Yokohama for warm-weather driving with the 2020 Yokohama Spring Rebate.”
Topping the list of incentives is a chance for buyers to win back the purchase price of their new tires in addition to their rebate claim of $70 (for a set of four tires). Customers are asked to claim their Yokohama VISA prepaid cards at yokohamarebate.ca and will then be automatically entered into the contest to win the purchase price of their set (up to $850).
Now through May 31, 2020, customers can receive $70 rebates on high-performance tires (ADVAN APEX, ADVAN SPORT A/S+, ADVAN FLEVA, ADVAN NEOVA AD08R, ADVAN SPORT V105, ADVAN SPORT V105 ZPS), all-season tires (AVID ASCEND GT, AVID ASCEND LX, AVID ASCEND, PARADA SPEC-X) and light-truck tires (GEOLANDAR G055, GEOLANDAR H/T G056, GEOLANDAR X-CV, GEOLANDAR A/T G015, GEOLANDAR X-AT, GEOLANDAR M/T G003, GEOLANDAR X-MT G005).
As well, buyers will be eligible for a $50 rebate on a set of four AVID TOURING S all-season touring tires.
For more information on the Yokohama Consumer Rebate program, visit yokohamarebate.ca.
About Yokohama Tire (Canada) Inc.
Yokohama Tire (Canada) Inc. markets and distributes a full line of tires for high performance, passenger car, light truck, and commercial truck applications, as well as off-the-road tires for mining, forestry and construction applications. It maintains distribution centers across Canada to serve more than 1,000 independent tire dealers and well over 3,000 retail locations. yokohama.ca/.
Petrochemical demand alone could fall by between 2.4 million and 4 million metric tons because of the virus, according to Bill Hyde, senior director-olefins and elastomers at Houston-based analytics firm IHS Markit.
Tokyo – Bridgestone Corp. is strengthening its brand strategies ahead of the Tokyo 2020 Olympic games and following weak results in 2019.
The Japanese tire & rubber group reported 19% year-on-year decline in operating profit to Yen326 billion (€2.7 billion), on 3% lower sales of Yen3,525 billion, Bridgestone announced 17 Feb.
Net sales in the tire segment fell 3% to Yen2,953 billion, while operating profit dropped 17% to Yen325 billion.
Trade tensions and bad weather hampered planting and harvesting throughout North America, forcing farmers to avoid major investments in equipment. This year could be different.
IHS Markit expects automakers to lose about 350,000 units of vehicle production in the first quarter as local Chinese governments keep plants closed to keep the new coronavirus from spreading. China closes its factories, which were supposed to reopen last week, to celebrate the Lunar New Year’s every year. Government officials have extended the shutdown to Feb. 10 in some provinces.