Toyo Tires will exhibit at the 28th edition of Autopromotec at the Fiera di Bologna from 22-26 May, 2019. The company will present its range of UHP and SUV products to the large number of aftermarket professionals who visit this exhibition. The tyre maker added that two new products will be revealed at the exhibition, a winter tyre and a new motorsport product.
Hyogo, Japan – Toyo Tire Corp. has established a new Digital Transformation Division as part of a major restructuring bid which started earlier this year.
Launched 1 April, the new division will work towards “building an end-to-end system that connects us with customers,” said Toyo in a statement.
The move, said Toyo, aims to realise an “agile management style” and accelerate digitalisation and innovation within the company.
The U.S. Tire Manufacturers Association (USTMA) awarded seven tire manufacturers with a 2019 Sustainability Award for Safety and Health for their work in advancing occupational health and safety.
“USTMA members share an aspirational vision for the U.S. tire manufacturing industry of zero injuries and illnesses in the workplace,” said Anne Forristall Luke, USTMA president and CEO.
Toyo Tires announces the new Toyo M655 all-weather tire for local and regional service applications is coming to the U.S.
This tough, mixed service commercial tire is built for year-round use in the most demanding conditions. Suitable for both drive and steer applications, it includes the 3-Peak Mountain Snowflake symbol on its sidewall indicating its ability to perform even in snow and ice.
Toyo Tire U.S.A. Corp. introduces a new premium all-season highway tire — the all-new Toyo Open Country H/T II for pickup trucks and SUVs. This next-generation tire builds on the quality and reputation of the Open Country H/T with added technology and design allowing for improved wet braking performance and handling, longer tread life and more consistent traction performance throughout the life of the tire.
Cypress, California – Toyo Tire USA Corp. is raising dealer base prices 1 May on its commercial tire range by an average of 5%, with the exception of the Toyo M320 on-/off-road tire.
“Further government actions have made it necessary to adjust our commercial tire prices,” said Randy Gaetz, senior vice president, sales, referring to the recent imposition of elevated import duties on tires sourced from China.
The Toyo Tire Corp. saw a drop in operating income and net sales for 2018 with projections for 2019 looking up.
In its 2018 year-end financial report, the company reported 393 billion yen ($3.55 billion) in net sales in 2018, down from 405 billion yen ($3.65 billion) in 2017. The company’s operating income stood at 42.4 billion yen ($382 million) compared to the previous year at 45.3 billion yen ($408.8 million).
Toyo Tire Corporation’s US subsidiary, Toyo Tire North America Manufacturing (TNA), has manufactured its 50 millionth tire. The tire that rolled off the production line was a Ridge Grappler for light trucks, sold under the Nitto brand, in size 35 x 12.50 R20 LT 125Q 12PR.
TNA is currently in the fifth stage of a production capacity expansion. New equipment that will come online in April will boost the factory’s annual capacity by 1.2 million tires (converted for passenger vehicle tires).
Global low rolling resistance tires market was valued at USD 60.5 Billion in 2017 and growing at a CAGR of 12.3% in the forecast period of 2018 and 2025. The upcoming market report contains data for historic years 2015 & 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
Market Segmentation: Global Low Rolling Resistance Tires Market
The global low rolling resistance tire market is segmented based on type, application, end user application and geography.
Based on type, the market is
Iori Suzuki, currently president and CEO of Toyo Tire Holdings of Americas Inc. (TTHA), will add the title of chairman of the company to his title.
Suzuki will continue in his role as corporate officer of the company. He succeeds James L. Hawk, CEO of Toyo Automotive Parts (USA), Inc., and chairman of Toyo Tire North America OE Sales LLC. Hawk concluded his chairman roles on December 31, 2018. He will assume the position of senior advisor to the Toyo Tire group.