London – Continental Tyre Group officials rolled into London on 22 Feb to show off recent UK acquisition Bandvulc and explain some of parent Continental AG’s plans for the retread tire sector.
Acquired last summer, the Ivybridge, Devon-based truck tire retreader is seen as representing a ‘missing piece in the jigsaw’ for the German group – a relative newcomer to this sector.
Embarking on a strategy to offer a ‘full life-cycle package’ to the tire market, Conti…
Read the source article at European Rubber Journal
In Toyo Tire & Rubber Co. financial results for fiscal year 2016, the tiremaker reported decreased tire sales overall, but an increase in unit sales in the overseas replacement market.
According to the report, Toyo’s tire business net sales decreased 6.7% year-over-year to 381,635 million yen (approximately $3.34 billion) in 2016, while operating income decreased 21.7% to 45,405 million yen ($397 million). Toyo attributed this decrease in net sales to net to a strong yen and other factors.
Read the source article at Tire Review
SAN JOSE DEL CABO, Mexico (Feb. 13, 2017) — Hankook Tire America Corp. plans to step up its North American marketing efforts in 2017 as part of a strategy to grow in a marketplace that looks to remain relatively flat.
One important reason for the 40-percent increase to the marketing budget is the opening in 2017 of the company’s first U.S. tire plant, but also from a global perspective the U.S. market is becoming more and more important to Hankook, according to Hankook Tire America President and Chief Operating Officer Hee Se Ahn.
“So we made a decision to increase our overall funding for the U.S.A. market,” he told Tire Business Feb. 11 during an interview at the company’s 2017 U.S./Canada Partner’s Day in San Jose del Cabo.
Hankook has aspirations to grow 15 percent globally in 2017, Mr. Ahn said, and the U.S. subsidiary is looking to achieve that same goal.
Read the source article at Tire Business
FINDLAY, Ohio, Feb. 6, 2017 /PRNewswire/ — Tire problems resulting from roadside hazards like potholes, nails and glass are frustrating under the best of circumstances, even more so when a tire has substantial life left and is in otherwise good condition. Recognizing that roadside hazards are a part of driving, Hercules® Tires has significantly expanded its Road Hazard Protection Program. The new program offers free tire replacement for two years after purchase, or the first 50 percent of a tire’s tread life, if a tire is damaged due to a road hazard. For the first time, this policy protects all new Hercules passenger and light truck tires, including mud and commercial traction tires.
“For years, our customers have been able to count on Hercules Tires for outstanding road hazard protection coverage,” said Jedd Emans, vice president of marketing for the Hercules brand. “We don’t know of any other company offering the breadth and depth of coverage that we do now. The enhancements we made should help consumers feel more comfortable than ever choosing our tires.”
Read the source article at cbs8.com
Goodyear Tire and Rubber Co. today reported record-breaking earnings in the Americas and strong earnings globally, despite a year-over-year decrease in consumer and commercial tire sales numbers globally. Goodyear earnings include a net income of $1.3 billion globally for 2016 and record high Q4 income of $295 million for the Americas. Growth, despite a 4.6% decline in units sold and a 10.9% decrease in net sales within the Americas (in part due to the deconsolidation of Venezuela), the tiremaker reported a 1.1% YoY increase in consumer tire units sold and a 4.2% YoY decrease in commercial units sold worldwide.
The company’s strategy to focus on the more profitable large-rim-diameter tire sizes (17-inch and larger) and increasing the value of the Goodyear brand seems to be paying off. According to Richard Kramer, chairman and chief executive officer, the income increase was driven by strong performance is the company’s Asia Pacific and Americas consumer tire businesses. Kramer said robust growth in the large-rim-diameter tire sizes (17-inch and larger) in 2016 was 9% in the US and 10% in EMEA.
“With the increasing demand for these premium tires, we expect supply to remain tight,” Kramer said. “The segment is growing in multiples [as compared to] the total industry.”
He added that the trend is driven by the auto manufacturers so the company will continue to target OE fitment opportunities that have high consumer loyalty, resulting in eventual pull-through to the replacement market.
Read the source article at Tire Review
Global Automotive Airless Radial Tire Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One trend in market is in-tire technology to revolutionize airless tire market. Bridgestone has been developing a system known as Contact Area Information Sensing (CAIS) system since 2011. The company demonstrated the same in December 2015 in Japan and announced that the system was market-ready. In CAIS, tires have sensors mounted on them, which monitor the road surface and communicate the information to the driver in real time. This is expected to be a game changer for airless tires since noise and vibration have been some of the prime drawbacks of these tires (discussed in the section on market challenges).
Read the source article at PR Newswire
The growth in end user industries is expected to increase the consumption of farm tires. The growth in agricultural industry is expected to boost demand for farm tires. In addition, rising demand for agricultural machinery from emerging economies of Asia Pacific is expected to further boost demand for farm tires. However, availability of substitutes and fluctuating raw material prices could hamper the growth of the market.
Read the source article at openPR.com
Russian market provides plenty of potential for future income growth.
Stable development from the Nordic and other growth markets together with a few strong winter seasons would intensify the growth even further.
A 50€ level could easily be achieved if the two above catalysts materialize.
In my previous article regarding Nokian Tyres (OTC:NKRKF), I was mainly focusing on current business segments and what type of factories the company had. This article will provide a more in-depth understanding about the company’s different market areas and a description of the current business environment. In addition, as majority of Nokian Tyres’ R&D costs are spent on tire testing, it is as well useful to look at what kind of test centers the company has.
Currently the share price is trading in mid-30s but it could quickly rise well above a 50€ level if the situation in Russia were to strengthen. Even a 60€ level could be reached if …
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The Global Racing Tire Market by Manufacturers, Regions, Type and Application, Forecast to 2021 is a professional and depth research report on Racing Tire industry that would help to know the world’s major regional market conditions of Racing Tire Market, is the main region including North American, Europe and Asia etc., and the main country including United States, Germany, Japan and China etc..
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The report provides a basic overview of the Folklift Solid Tire industry 2017 including – definitions, classifications, Folklift Solid Tire market by applications and Folklift Solid Tire industry chain structure. The 2017’s report on Folklift Solid Tire Industry analysis is provided for the international Folklift Solid Tire market including development history, Folklift Solid Tire industry competitive landscape analysis, and major regions development status on Folklift Solid Tire scenario.
Top Manufacturers Analysis in Folklift Solid Tire market 2017:
1 Continental AG
3 NEXEN Corporation
4 Tube & Solid Tire
5 Global Rubber Industries
6 Superior Tire & Rubber Corp
7 Initial Appearance LLC
Read the source article at openPR.com