Cabot withdraws 2020 earnings guidance

Boston, Massachusetts – Cabot Corp. has withdrawn its financial guidance for fiscal year 2020 and is reducing planned capital expenditure in response to Covid-19 pandemic.

Despite a “solid” second quarter, ending 31 March, Cabot said it is withdrawing the outlook as future demand for the company’s products remain uncertain.

In addition, in order to maximise free cash flow, Cabot is looking to reduce previous plans for capital spending, said CEO and president Sean Keohane in a statement 30 March.

Read the source article at European Rubber Journal

Industry veteran Steve Hutchinson founds marketing, sales agency

HUNTINGTON BEACH, Calif. — Tire industry veteran Steve Hutchinson has founded Tire Brands America (TBA), a sales and marketing agency for foreign-sourced brands that don’t have a U.S.-based sales team and/or who may be underserved in terms of sales and marketing.

Read the source article at Tire Business

Detroit’s near future based on crossovers, SUVs, not EVs, production plans show

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.

Read the source article at Front Page

Quebec dealerships might pivot to online sales amid COVID-19 crisis

With Quebec taking an ever more aggressive approach to the coronavirus crisis, the province announced March 23 all non-essential businesses are to be closed until at least April 13.

Read the source article at driving.ca

How Tire Manufacturers are Responding to COVID-19

As the coronavirus continues to spread, Tire Review reached out to tire manufacturers to see how their companies are responding to this global pandemic and the economic challenges that have come with it.

Read the source article at Tire Review

Kumho Unveils “Premium Fuel Program”

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Kumho Tire Canada has enhanced its “Premium Fuel Program” for Kumho authorized dealers with increased payouts and a new payment method.

Read the source article at Autosphere.ca

The impact of Coronavirus (COVID-19) on the automotive industry

The outbreak of the Novel Coronavirus (COVID-19), which originated in Wuhan, China in end-December 2019, is fast spreading its tentacles across the world and is having a major impact on all aspects of society, including the automotive industry. All through January and February, automakers and their suppliers have been scrambling to keep vehicle assembly lines humming but March has seen the industry take concerted action, in sync with government advisories, to keep its personnel safe.

Read the source article at Latest Car News & Reviews

Yokohama Tire wants drivers to welcome spring with up to $70 rebate on select tires

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/.

Michelin has high hopes for new-look X-Ice tires

NOTRE-DAME-DE-LA-MERCI, Quebec—When Michelin asked tire dealers and distributors what they wanted in the company’s next winter tire, they said looks were everything.

Read the source article at Rubber and Plastics News

German rubber industry braces for ‘zero growth’ after 2019 decline

Frankfurt, Germany –Germany’s rubber industry is set for zero-growth in 2020, after a 4.2% year-on-year decline to €11 billion in 2019, the WDK has forecast.

Both the tire industry and technical rubber segment posted a decrease in sales for last year, according to the German rubber industry association.

Tire deliveries fell 4.4% to €4.5 billion and technical rubber sales dropped 4% to €6.4 billion, said a WdK industry survey issued 4 March.

Read the source article at European Rubber Journal