The numbers are in: Canadians really like our SUVs and trucks

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Canada has a population of just over 36 million people; by the close of this year, current annual sales of new cars will be about 2 million. Estimates put used car sales at about three million for the same time period.

We buy a lot of cars.

Light trucks, actually. For all the jabber after the last economic crash a decade ago, the one that took the leasing industry with it, we’ve left behind the promise of subcompact vehicles, become bored with sedans and continue to shun the hybrid and electrics that dominate headlines but little else.

“Sixty-eight to sixty-nine per cent of the market this year is light trucks,” says Dennis DesRosiers, of DesRosiers Automotive Consultants. “In fact, for four of the past 12 months, it’s been over 70 per cent, and this will stay positive for another year, at least.” 

Read the source article at driving.ca

Yokohama Rubber Reports Gains in Sales and Earnings in First Three Quarters of 2017

Company achieves increase of 39.7% in operating income while posting highest-ever net sales for first three quarters

Tokyo – The Yokohama Rubber Co., Ltd., announced today its business and financial results for the first three quarters of 2017 (January to September). Profit attributable to owners of parent increased 96.4% over the same period of the previous year, to 16.7 billion yen, on a 39.7% increase in operating income, to 26.4 billion yen, and a 13.8% increase in net sales, to 466.8 billion yen. The figure for net sales was Yokohama’s highest ever for the first three quarters. 

The strong fiscal performance reflected robust results in Yokohama’s Tires segment. Operating income in that segment rose 14.8%, to 19.0 billion yen, on a 7.3% increase in sales, to 333.1 billion yen. Yokohama achieved the gain in operating profitability despite the adverse effect of upward movement in prices for raw materials. 

In the original equipment market for tires, Yokohama’s sales increased solidly overseas, led by

Read the source article at 企業サイトトップ

Toyo Tire Taps Chaney as Head of Marketing

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Toyo Tire U.S.A. Corp. (Toyo Tires) welcomes Tim Chaney to the company as vice president of marketing. With deep roots in vehicle manufacturing, Chaney brings more than 30 years of marketing and automotive experience to Toyo Tires, including 15 years at Kia Motors America where he most recently served as vice president of marketing communications. There he played a key role in marketing, advertising and communications strategy.

Read the source article at Tire Review

Hankook Welcomes New Director of Sales and Marketing Director in Canada

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Hankook Tire has announced John Overing will be the company’s new director of sales and marketing in Canada. Overing will oversee the region’s sales team and will be instrumental in identifying opportunities for growth within the Canadian market.

Overing joins the company with more than 18 years of experience in the tire industry, bringing with him a wealth of knowledge and industry expertise.

Read the source article at Tire Review

Cabot boss expects “solid growth” in American tire market

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Boston, Massachusetts – Cabot Corp. expects to see “solid growth” in the North American tire sector due to ‘long-term fundamentals’ of the market, according to company CEO Sean Keohane.

In a full-year results conference call on 2 Nov, Keohane said tire-plant investments were ramping up in North America with “a shift towards more local production that will support growth rates in that range.”

Read the source article at European Rubber Journal

Can Ford Turn Itself Into a Tech Company?

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On a sunny afternoon in early October, I drove across a parking lot in Ann Arbor, Mich., and down a sloping road to a second, private lot. A fence lining the lot’s perimeter was covered in black fabric, as if to deter snoops. Behind it was a 32-acre Potemkin village. There were paved roads with names and signs: Liberty Street, Main Street, Wolverine Avenue. There was a traffic roundabout, a covered underpass and a railroad crossing.

Read the source article at The New York Times

Unique Fabricating, Inc. Reports Third Quarter 2017 Financial Results

AUBURN HILLS, Mich.Nov. 9, 2017 /PRNewswire/ — Unique Fabricating, Inc. (“Unique” or the “Company”)(NYSE MKT: UFAB), which engineers and manufactures multi-material foam, rubber, and plastic components utilized in noise, vibration and harshness management and air/water sealing applications for the automotive and industrial appliance market, today announced its financial results for the third quarter ended October 1, 2017.

 

Third Quarter 2017 Financial Highlights

  • Revenue of $41.2 million in the third quarter 2017, down 7.9% compared to $44.8 million in the third quarter 2016
  • Net income of $0.7 million, or $0.07 per basic and diluted share…

Read the source article at PR Newswire

Hankook income drops in third quarter, nine months

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SEOUL, South Korea—Hankook suffered double-digit drops in operating income for the quarter and nine months ended Sept. 30, despite increased sales for both periods.

Read the source article at Rubber and Plastics News

Continental, Osram planning automotive lighting solutions JV

Germany’s Continental AG intends to enter into a non-tyre joint venture with lighting manufacturer Osram. Each firm will hold a 50 per cent stake in Osram Continental GmbH, and through this venture the partners aim to “combine innovative lighting technology with electronics and software to develop, manufacture and market intelligent lighting solutions for the automotive industry.” Projected sales for the Munich-registered business lie in the mid-triple-digit-million-euro range.

Read the source article at Tyrepress

Canadians roll the dice on business success at SEMA

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LAS VEGAS, Nevada – There are several Canadians taking a gamble here, but they’re not at the slot machines. They’re at the SEMA Show, and they’re hoping to put Canada’s mark on the automotive world.

It stands for Specialty Equipment Market Association, and it’s the continent’s largest trade show for the automotive aftermarket. It’s not open to the public, and attendees can’t actually buy something and bring it home.

Read the source article at driving.ca