Michelin is demonstrating resilience through an unprecedented crisis

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124,000 125,400 1 Free cash flow: net cash from operating activities less net cash used in investing activities, adjusted for net cash flows relating to other financial assets, before distributions. 2 At period-end. Covid-19: impact of the health crisis on the Group’s financial position at June 30, 2020 Review of the information released by the Group during the first six months of the year On February 10, 2020, the Group issued its guidance for 2020 excluding any impacts from a systemic crisis caused by Covid-19. On March 18, 2020 at 6:10 pm CET, the Michelin Group …

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TIA and GfK to hold webinar on COVID-19 and what’s next for tire retail

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The Tire Industry Association (TIA) and market research firm GfK US will hold a webinar about what comes next for the U.S. retail tire marketplace as the nation begins reopening from the coronavirus lockdowns.

“Beyond the Crisis: A Roundtable on COVID-19 and What’s Next for Tire Retail,” will take place Monday, June 22, at 2 p.m. EDT. To register, go to https://insights.gfk.com/covid-19-gfk-tia-tires-webinar-2.

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Total U.S. Aftermarket Forecast to Decline 8.8% But Expected to Rebound in 2021

RESEARCH TRIANGLE PARK, N.C. and Bethesda, Md. – June 5, 2020 – Total U.S. automotive aftermarket sales are forecast to decrease 8.8 percent in 2020 as a result of the impact of the COVID-19 pandemic and related factors, according to the “2020 Joint Channel Forecast Model” produced jointly by the Auto Care Association and the Automotive Aftermarket Suppliers Association (AASA). The 2020 Joint Channel Forecast Model also predicts that total light duty aftermarket sales will grow from $281 billion in 2020 to $314 billion in 2021.

Read the source article at autocare.org

Airless Tires Market Revenue to Cross USD 45 Million by 2026: Global Market Insights, Inc.

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Sverige Airless Tires Market Revenue to Cross USD 45 Million by 2026: Global Market Insights, Inc. Latin American airless tires market is likely to witness a growth of around 5% during the forecast timeframe, owing to favorable trade policies, along with foreign direct investment inflows in the region. 

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Pirelli expects 19% decline in global passenger car tire demand

Milan, Italy – Pirelli & C. SpA estimates the overall car tire market to decline 19% in the year 2020, as a result of the Covid-19 global pandemic.

“In light of the elements available today and based on a prudent scenario, Pirelli now expects a fall of 2020 GDP at the global level of about negative 2.8%,” the company said in a statement 3 April.

The figure compares against an earlier forecast of 2.7% growth presented in the company’s Industrial Plan 19 Feb.

Read the source article at European Rubber Journal

Michelin gauges tire market decline

Clermont-Ferrand, France – Tire market data as of 29 Feb shows that the Covid-19 crisis has led to a 9% year-on-year decline in the global passenger car and light truck tire market, Michelin has reported.

Meanwhile, worldwide demand for truck tires was down 16% over the first two months of this year as a result of pandemic, according to the French tire group.

Read the source article at European Rubber Journal

Rubber, tire industries deals with uncertainty from coronavirus

Like everyone else, tire and rubber companies and their employees face uncertainty as the world seeks effective responses to the coronavirus.

It’s now been months since the health crisis emerged from Wuhan, China, first gripping a large swath of that country before moving overseas and creating what the U.S. Centers for Disease Control and Prevention said is the likelihood of a pandemic. The risk is still low in the U.S., despite reports of cases in several states and deaths now occurring on domestic soil.

Read the source article at Rubber and Plastics News

German rubber industry braces for ‘zero growth’ after 2019 decline

Frankfurt, Germany –Germany’s rubber industry is set for zero-growth in 2020, after a 4.2% year-on-year decline to €11 billion in 2019, the WDK has forecast.

Both the tire industry and technical rubber segment posted a decrease in sales for last year, according to the German rubber industry association.

Tire deliveries fell 4.4% to €4.5 billion and technical rubber sales dropped 4% to €6.4 billion, said a WdK industry survey issued 4 March.

Read the source article at European Rubber Journal

The Canadian Tire Sector: Market Landscape and Opportunity Assessment, 2014-2024

Dublin, Feb. 24, 2020 (GLOBE NEWSWIRE) — The Canadian tire market stood at $ 4.9 billion in 2018 and is projected to grow at a CAGR of around 4.9% during 2019-2024 to reach $ 6.4 billion by 2024, on the back of increasing industrialization and growing penetration of online sales channels across the country. The tire market in Canada relies on tire imports from several countries. Moreover, the demand …

Read the source article at benzinga.com

Goodyear shares tumble as company reports net loss

Akron, Ohio — Goodyear reported double-digit drops in operating income and net losses for the quarter and fiscal year ended 31 Dec 2019, due to higher operating costs, one-time restructuring charges and tax “adjustments.”

Sales revenue was off for both periods as well, dropping 4.2% in the quarter to $3.71 billion (€3.4 billion) and 4.7% for the full year to $14.7 billion.

Read the source article at European Rubber Journal