Michelin revenue up 10% through nine months despite lower unit sales

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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

Read the source article at Tire Business

TIA president reflects on ‘challenging’ term

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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.

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Pirelli cuts guidance, delays business plan in worsening scenario

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.

Read the source article at Stock Market Quotes and News

Editorial: Green is new black for tire makers

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Despite the industry’s best efforts, it’s difficult to shake the common perception of a tire or a tire manufacturing plant.

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.

As all of us know, that is far from the reality.

Today’s tire industry, like many other industries that have a far better consumer reputation, is highly efficient, environmentally conscious, sustainability driven and technologically cutting-edge.

Read the source article at Tire Business

Editorial: Keeping pace with evolving OTR industry

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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.

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Michelin raising tire prices for fourth time this year

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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.

Read the source article at Tire Business

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

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