PARIS — Michelin Group reported a 10.4% increase in sales revenue for the nine months ended Sept. 30 despite lower sales volumes in the consumer and commercial tire segme
BOWIE, Md. — John Evankovich, who is set to conclude his tenure as Tire Industry Association (TIA) president, reflects on what he calls “a challenging year, but very fulfilling” year.
Adding to a string of auto parts suppliers hit by prolonged industry weakness, Pirelli said it forecast a full-year margin on its adjusted earnings before interest and taxes (EBIT) between 17% and 17.5% versus an already lowered previous target of 18-19%.
Pirelli, which makes tyres for Formula One racing teams and premium automakers such as BMW and Audi, said in a statement it cut its guidance after facing greater fixed costs as it lowered production to reduce inventories.
The misconception starts and ends with the color black: A black product, manufactured using an environmentally unfriendly substance called carbon black, in a dank, dark facility.
Today’s off-the-road (OTR) tire market is growing steadily — though maybe not in the farming sector this year — and tire manufacturers continue to up the ante in terms of tire performance.
GREENVILLE, S.C. — Michelin North America Inc. (MNA) has announced a price increase for the fourth time this year, announcing that it will increase prices up to 4.9% for Michelin, BFGoodrich, Michelin Retread Technologies and Oliver brand truck tire and retread products in the U.S. and Canada.
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.
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…
This is increasingly true in the tire industry, as more consumers seek tires that meet multiple performance needs without tradeoffs. …
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.