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The cost-of-living crisis is pushing the European Commission into action. Having faced accusations of being on the backfoot since the pandemic, it is now increasing the number of dawn raids and antitrust investigations. The ultimate intention is to prevent consumers facing higher costs than necessary from businesses.
Hankook Tire Europe’s intensive expansion of its original equipment truck tyres business over the last half-decade hit significant headwinds at the end of 2021. As a result, the manufacturer made the decision to largely discontinue corresponding deliveries at the start of 2022. Speaking to Tyres & Accessories’ sister magazine in Germany, Neue Reifenzeitung (NRZ), representatives from Hankook’s European headquarters in Neu-Isenburg were clear that the company had not withdrawn from original equipment, but that there has been an interruption, which will be followed by a “restart” in the next two years. This raises the question of how this strategic decision will be received in a shrinking market, while many in the aftermarket are wondering why such a drastic move was necessary in the first place.
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A billion tyres reach the end of their useful lives worldwide each year, but landfills are a no-no and a growing number of countries are banning the burning of tyres in cement kilns. What to do with these waste tyres? Pyrum Innovations is showing the world its solution, and customers, project partners and suppliers are already lining up to be part of it.
It is not a stretch to see that the cost of living crisis is going to have a big impact on UK retail in 2023. Commercial vehicle operators will seek all sorts of economies on the road even if the price of diesel and petrol continues to fall, as it has done for the last couple of months. With their belts tightening, we may see more amalgamated logistical operations, leading to longer lead times and even fewer trucks on the road. Fife Autocentre in Kirkcaldy is encouraging motorists in major UK areas like London, Yorkshire and Scotland to be vigilant about the effects of these changes on ordinary motorists, especially in regard to their tyre purchasing decisions.
The completion of Goodyear’s takeover of Cooper on 7 June this year brought with it the first indications of the scale of Cooper’s sales in the Europe Middle East and Africa (EMEA) market. Before that point, Cooper only reported sales figures for their “International Tire Operations”, which includes sales generated worldwide outside EMEA.
The Marangoni Group made money again last year despite significantly declining sales. With key figures improving, questions of the future relationship between the Italian firm and global retreading supplier Vipal Rubber reappears. The Brazilian company acquired a majority share in Marangoni Tread North America via a joint venture in 2019 and is reportedly about to take over the Marangoni activities in Latin America, which are currently being restructured. It would very much like to take over the entire company. Vittorio Marangoni, president of the Marangoni Group, confirmed that negotiations were ongoing between the firms three years ago to Tyres & Accessories. These could now also end positively in the interests of Vipal Rubber as part of a capital increase, according to company sources.
Surging demand for new hybrid cars is also being reflected in the used market, with the online car supermarket BuyaCar.co.uk reporting its highest-ever proportion of hybrid customers. But a gap is emerging between brands when it comes to the popularity of hybrid as a consumer choice over diesel or petrol, BuyaCar analysts say.
Hankook’s story is undoubtedly one of extraordinary growth. The South Korean-based manufacturer inaugurated its car tyre plant in Hungary in 2007, which currently produces around 19 million tyres annually. In parallel, the company has succeeded in becoming an OE supplier to nearly all European premium manufacturers. The same applies to truck tyres, albeit to a lesser extent. Even if Hankook only postponed plans to expand its Hungarian factory to include truck tyre production until the end of last year due to economic uncertainties, market observers can see that the tyremaker holds double-digit truck tyre market shares in in many European. For Hankook, this isn’t the end of the success story, but rather the introduction to even more extensive growth. Moving forward, Hankook was respond more fully to the increasingly demanding needs of European truck tyre replacement market customers.
Ricardo, experts in sustainable transport has delivered an innovative and comprehensive lifecycle assessment of road vehicles on behalf of the European Commission alongside specialists from E4tech and the Institute for Energy and Environmental Research Heidelberg (ifeu).
The coronavirus outbreak has affected many industries, but the automotive industry is among the hardest hit. After carmakers stopped production and dealerships closed showrooms amid Covid-19 lockdown, global car sales slumped worse than ever before. However, the luxury car market was generally less affected by the financial downturn caused by the coronavirus pandemic. According to data presented by StockApps.com, the market capitalisation of the world’s most valuable car company, Tesla, hit over $460bn this week, almost seven times more than Ferrari, Porsche and Aston Martin combined.
The continuing popularity of Denso Aftermarket’s webinar programme has once again been proved, as the original equipment (OE) component and system supplier has added yet more modules and dates to its free technical training platform.
Much has changed at Nexen Tire of late, a phenomenon particularly noticeable within the South Korean tyre maker’s European operation. In the past two years, the company has set up a new production facility in the Czech Republic and a European headquarters in Germany as part of its ‘Global Nexen’ strategy. This expansion is occurring parallel to similar growth in Korea and the USA.
The Yorkshire Motorsport Festival has revealed the first of its newly-planned theme “Villages” for 2021 – The Palmer Foundation Engineering Village. The Village will bring a hardcore motorsport trade element into the event. It will allow current British motorsport companies access to a large, targeted trade and competitor audience – at a live, national championship motorsport event – which the organisers believe is another first for the Festival. The Palmer Foundation Village will also showcase opportunities for careers in engineering, motorsport and related industries.
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Nokia Oyj has won a court ruling in a patent dispute with Daimler, giving the Finnish company leverage in a long-running fight over mobile technology in vehicles. Daimler, owner of the Mercedes-Benz brand, violated Nokia’s mobile-technology patents, judges in Mannheim, Germany, said on Tuesday. The ruling goes to the heart of how technology must be licensed for mobile-telecommunication systems that are standard features in most modern cars.
The window to attract crucial funding from the Government-supported Coronavirus Business Interruption Loan Scheme (CBILS) is closing rapidly, warns asset finance specialists PVS Finance.
Businesses in the automotive sector have until the end of September to get grants agreed, worth up to 25 per cent of turnover. However, mistakes in the application process can hamper the progress of applications, with often incomplete or incorrect details resulting in a rejection.
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