GfK: Summer tire sales rise 14% in 2019

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NEW YORK — Summer tire sales from independent tire dealers increased 14% in the first half of 2019, compared to the same period in 2018, according to point-of-sale data from research and analytics firm GfK.

“With 1.8 million units sold, summer tires have accounted for $291 million in revenue so far this year,” GfK said in an Aug. 27 release.

 

Read the source article at Tire Business

Central Europe slowdown impact Nokian results

Nokia, Finland – Nokian Tyres plc has reported a 12.5% year-on-year decline in first half operating profit at €148 million, on 0.3% lower sales of €763 million.

The Finnish tire maker linked the decline in sales to weak car and tire sectors in Europe, which offset gains in the heavy tire segment during the first six months of the year.

“The competitive landscape in the Central European replacement car tire market is tight due to weakness in the OE segment, as there is a high supply of…

Read the source article at European Rubber Journal

Shifting expectations drive off-road innovation

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It’s no secret that consumer preferences are evolving, and their expectations for companies, brands and products are higher than ever.

This is increasingly true in the tire industry, as more consumers seek tires that meet multiple performance needs without tradeoffs. … 

…As the off-road consumer tire segment continues to grow, function is only one part of the equation. Aesthetics also matter.

Read the source article at Tire Business

Yokohama H1 earnings drop on flat sales

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Tokyo — Yokohama Rubber Co. Ltd.’s operating and net income fell during the six months ended 30 June due to increased manufacturing and logistics costs and the negative effects of lower unit sales volume.

Sales revenue grew 0.5% during the period as higher revenue in the firm’s industrial rubber products and ATG off-road tire unit offset lower revenue in the tire business unit, Yokohama reported 8 Aug.

Read the source article at European Rubber Journal

Chinese tire makers brace for the new normal

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Beijing – China’s tire production and sales volume recorded the first drop over two decades in 2018, against the backdrop of the first global downturn for the automotive industry in the past ten years.

The first two months of 2019 saw an even sharper year-on-year decline in the China market, said Shen Jinrong, chairman and general manager of Zhongce Rubber, during her speech at the China Rubber Conference held in Guangzhou this March.

Read the source article at European Rubber Journal

Michelin expects dip in car tire demand this year

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Clermont-Ferrand, France – Groupe Michelin expects passenger car & light truck tire markets to decline by 1% year-on-year for the full year 2019.

A modest 1% growth is anticipated in the replacement segment, the company said in its quarterly report 25 July.

This, however, will fail to offset an expected 4.4% contraction in the OE segment, the French tire maker added.

Michelin also anticipates that the truck tire markets will decline more quickly in the second half, to end the year down 2%.

Read the source article at European Rubber Journal

Q&A: Yokohama’s products to seize on Cuv, Uhp popularity

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Andrew Briggs, Yokohama Tire Corp.’s vice president of marketing and product management, discusses trends in the UHP and CUV/SUV tire market and how Yokohama is addressing those trends with new products.

Read the source article at Tire Business

A Conversation with Brent Hesje

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Many of the same disruptions that continue to affect the U.S. tire industry are impacting the Canadian tire market. Tire Business Editor Don Detore sat down recently to discuss the market with Fountain Tire CEO Brent Hesje. Fountain Tire has been honored as one of Alberta’s Top Employers and one of Canada’s Best Managed Companies.

Read the source article at Tire Business

Nokian Tyres seeks to gain traction in North America with new factory – Reuters

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HELSINKI (Reuters) – Finnish tire maker Nokian Tyres expects its new U.S. factory in Tennessee to help it double its sales in North America, especially by expanding its all-season tire sales in the region, the company said on Thursday. The company, which has previously concentrated mostly on winter tire sales in Russia and Europe, said the new facility would allow it to seek growth in the significantly larger all-season tire market in North America.

Read the source article at reuters.com

German auto suppliers downbeat as trade dispute simmers – Reuters

BERLIN/HAMBURG (Reuters) – German automotive suppliers Continental and Bosch do not expect a speedy recovery of the global auto market, as an escalating trade conflict between the United States and China threatens to compound already weak car demand. Automakers and their suppliers are grappling with a downturn in vehicle demand, particularly in China, the world’s largest car market, which saw sales slow down for the ninth month in a row in April.

Read the source article at reuters.com