Challenge Bibendum 2002
Product NewsHeidelberg will be the starting point for the Challenge Bibendum 2002, organised by Michelin and ADAC from September 22 to 25, with the route going from the Black Forest to Paris, through Alsace and Champagne. The cars taking part can be seen at the Karlsplatz at 13.30 pm. At 16.30 pm the participants will be greeted by Edouard Michelin, the Vice-president of ADAC, Dr. Erhard Oehm and the mayor of Heidelberg, Beate Weber. The designs will be evaluated by the jury from 15.00 pm to 18.00 pm and at 18.30 the caravan will start towards Hockenheim.
Continental: Problems With Nafta
Product NewsAnalysts at Deutsche Bank believe that this year Continental could achieve an EBITA of 600 million Euros. The management had forecast 530 million Euro. Although Temic was acquired, indebtedness has been reduced by 300 million Euros. Business in the USA is still bad, with losses of 100 million Euros (and more) expected. The objective of the chairman of Continental USA, Dr. Ulrich Wellen – to break even – seems not likely to be realised, at least in the near future.
American Safety Authority NHTSA Examines Dunlop Tyres
Product NewsDunlop tyres size 265/70 R 15, made between 1995 and 1999, are being examined by the NHTSA, following two rollover accidents in which people were injured.
Predictions For 2050:The Car Market Is Changing
Product NewsThe altering demographics of the population in the next 50 years will possibly see a decrease in the demand for cars. The changes will not necessarily be in parallel because of the way in which the changes in the population will occur. The population over 60 years of age will become increasingly important as their representation as new car buyers increases from 25 per cent to 35 percent of the car buying market. The sector under 50 years of age will drop from 55 per cent to 43 per cent. This means that the manufacturers will have to re-orientate their products and their marketing according to a report by Marketing Systems GmbH (Essen/Germany).
TyreFort Opens In Birmingham
Product NewsOn September 5th, Goodyear Dunlop UK officially opened its new purpose-built head office and national distribution centre, called TyreFort, in Birmingham. The building houses 300 associates, including Goodyear and Dunlop sales and marketing functions and shared functions such as finance, IT, etc. The National Distribution Centre is a 500,000 square foot warehouse, capable of storing one million tyres, and operates 24/7. In a spectacular opening ceremony, Marco Molinari, Chairman and Group MD for the UK welcomed guests, local dignitaries and customers and the official opening was performed by Mike Roney, President, Goodyear-Dunlop Western Europe.
Telecoms Crisis Means First Half Loss For Pirelli
Product NewsPirelli’s first half figures show that the group made a loss of 52 million Euros in the first half of the year, compared to a profit of around 200 million Euros for 1H 2001. This is directly attributable to what Pirelli calls “the unprecedented crisis in the world telecommunications market; excluding telecom consortium Olimpia (in which Pirelli has a 60 per cent stake), the group’s profit was 2 million Euros. Tyre sales were up 0.7 per cent over 1H 2001, at 1.488 billion Euros.
MAN AG: Buy
Product NewsThe analysts at the banking house M.M.Warburg rate MAN AG shares as a buy. The effects of the management to restructure the firm are already having an effect, so a price target of 27 Euros has been set.
DaimlerChrysler AG: Buy
Product NewsLast month the American vehicle market recorded good sales figures, still influenced largely by the offer of zero per cent financing. However, it is better to offer zero per cent deals and keep manufacturing capacity high rather than risk losing market share, say the analysts at M. M. Warburg, who have set a target figure for DaimlerChrysler shares of 62 Euros.
Changes In Tyre Manufacturer World Rankings
NewsLast year Michelin achieved total sales of $13.4 billion, putting the company ahead of Bridgestone ($13 billion) and Goodyear ($12.5 billion). However, in unit terms, Goodyear considers itself the largest manufacturer with an output of 219 million tyres.
Two More Years For Sauber And Bridgestone
Product NewsFormula One team Sauber-Petronas and Bridgestone have agreed to continue their co-operation and the Japanese tyre maker will supply Sauber until 2004.
Mondolfo Ferro’s General Manager Died
Product NewsIn August Dr. Liviano Petrolati (53), General Manager of Mondolfo Ferro, the Italian tyre equipment company, died after a tragic road accident.
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Continental President Wennemer Not Enthusiastic
Product NewsThe economic situation in the Chinese market needs to be evaluated carefully, Continental’s President Manfred Wennemer told the German Press Agency (dpa). Volkswagen as a client is currently more valuable than the entire Chinese market. To supply Volkswagen does not entail building a tyre factory or buying a tyre manufacturer. On the other hand, Continental is interested becoming involved with its brakes technology in this potentially lucrative market and will work together with partners in this area.
JD Power Success For Michelin
Product NewsFor the fifth consecutive year Michelin has come top of the JD Power survey for satisfaction in passenger vehicle original equipment and top in the light truck OE tyre satisfaction league.The study has been based on reports from 33,700 consumers in their first three years on new vehicle ownership and reports on satisfaction with OE tyres. Michelin had the lowest percentage of owners reporting a tyre problem in the first year of ownership and more than 60 per cent of users said they would buy Michelin tyres as replacements. This is the highest level of repurchasing of any OE tyre brand.
Toyota “Will Build Fifth Plant In US”
Product NewsToyota President Fujio Cho has said that the company will need to build a fifth factory in the US if things go as planned in North America. The company wants to sell two million vehicles annually in the US by 2005 and is aiming at a 15 per cent share of the US market by 2010 – its current share is almost 10 per cent. In addition to the four existing US plants, Toyota has a factory in Canada.