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Report: Tyre Companies Will Increase Prices in 2010, But Not By Much

Will the leading global tyre manufacturers be able to increase product prices during the course of 2010? Yes, but not by much. That’s the view of Morgan Stanley’s financial analysts who published their assessment in an investor report published yesterday (16 March). Affirming the position, widely held amongst financial analysts, that the tyre industry is historically able to maintain “price discipline,” they commented that: “All major companies have already released price increase announcements – the industry is disciplined.”

Related news:

  1. Analysts on Pirelli results: ‘fewer tyres…more profits’
  2. Pirelli aiming to be "global premium leader" by 2015
  3. Pirelli Real Estate is Now Prelios
  4. Hankook Stock Falls 2% After Rating Cut

Analysts Reduce Pirelli Earnings Estimate, But RE Spin-Off Would Change Their Minds

Morgan Stanley analysts have decreased the bank’s 2010/2011 Pirelli earnings per share estimates by 20 – 25 euro cents, following the company’s fourth quarter results. This means the analysts have reduced their estimates from 3.39 euros to 3.18 euros and 4.53 euros to 4.28 euros for 2010 and 2011 respectively. They also commented that bank’s tyre EBIT estimates are now in line with the market consensus.

However, while the latest investors note (published on 16 March) was direct in assessment that earnings would be reduced, the analysts also outlined potential events that would make them change their mind. At the top of their wish list are changes in group organization, which Pirelli’s management has publicly announced that is seeking: “We applaud the efforts Pirelli is taking to focus on the core tyre business and believe the market will continue to reward the company for this, as it has done in the months.”

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  1. Pirelli Examining Real Estate Spin-Off
  2. Analysts on Pirelli results: ‘fewer tyres…more profits’
  3. Conti to Pump 500 million euros into Emerging Market Tyre Production
  4. Analysts: Pirelli to announce new ambitious targets

Michelin Plays its Travel ‘Trump Card’

The Michelin Group is first and foremost a tyre maker – 99 per cent of its business is directly tyre related. Yet the residual proportion of Group activities not centred upon the black, rubbery rings – the company’s maps and guides, ViaMichelin and Michelin Lifestyle – should by no means be viewed as just a sideshow, a therapeutic diversion from the serious business of producing tyres. In the words of Michelin managing partner Jean-Dominique Senard, “the one per cent is crucial to the 99 per cent of sales. It gives us half a billion contacts through our website clicks, and tens of millions of maps and guides are sold.

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  1. Michelin in JV with Apollo
  2. Two MNA Facilities Receive Parent Honors
  3. Stamford Tyres Adjusts Its Plans For China
  4. Edouard Michelin Dies in Boating Accident

Apollo Tyres Opens 150th Sales Office

Apollo Tyres has opened its 150th sales and marketing office in Tirunelveli, in the southern Indian state of Tamil Nadu. It is also Apollo Tyres’ 10th sales and marketing office in Tamil Nadu. The 149th office was in Etawah, Uttar Pradesh and the 148th in Begusarai, Bihar, opened in February and January this year. Since March 2009 Apollo Tyres has added 15 sales and distribution points to its network in India, something the company points to as being in keeping with the company’s “mantra” of being close to the customer.

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  1. Apollo Tyres Campaigns for Road Safety in Iran
  2. Apollo still on track to introduce Vredestein into India
  3. Tread depth measurers – the new speed camera?
  4. Deadlock continues at Apollo factory

Bandvulc Reports 50% Increase in BIG Tyre Sales

Bandvulc has reported that its BIG range (retreaded tyres for quarry and heavy application) expanded sharply in 2009, despite difficult recessionary times. According to Bandvulc, the company saw sales in this market increase by over 50 per cent. Bandvulc representatives commented that this because “customers are still looking for value for money and tangible longevity, not short term benefits.”

Related news:

  1. Colway and Greenway 4X4 Tyres “Love Mud”
  2. European Metal Recycling Chooses Bandvulc and Fulda
  3. Bridgestone Invests £400,000 in UK Retreading
  4. Bridgestone Continues Qualitread Rebranding
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Vacu-Lug Deflates Yokohama Truck Tyre Prices

While the majority of tyre manufacturers are increasing prices, Vacu-Lug Tyres Ltd has announced that it is actually reducing the cost of the Yokohama truck tyres it exclusively distributes in Great Britain. Vacu-Lug managing director Tim Hercock commented: “We have been doing a lot of work recently to improve efficiencies in our sales and logistics channels and as a result have been able to reduce our distribution costs which we have decided to pass on to our customers,” in a statement explaining that the price decrease covers the majority of the Yokohama truck tyre range, he added: “we are constantly being notified by our other tyre suppliers that their prices are going up and we thought that we would try and buck the trend by making the product range more competitive”.

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  1. Yokohama introduces 8% US commercial tyre price hike
  2. Price rise for Yokohama’s US consumer tyres
  3. Three van tyres from Yokohama cover seasonal usage
  4. Vacu-Lug becomes Hankook Alphatread UK retread partner

Tyrepac Aiming for £1.2 million in 2010

It may be barely two years old (having been founded in April 2008), but Tyrepac is vying for position as Asia’s first tyre e-tail portal. Currently operating in Singapore, Malaysia, Hong Kong, China and South Korea, the Singapore Hitwise report for the week ended March 6 ranked Tyrepac fifth on the Shopping and Classified listing, losing out only to the likes of eBay and Amazon. In terms of sales, the target for this year is 6 million Malaysian ringgits (£1.2 million, 1 million euros). This may sound small, but the company is already showing the rapid signs of growth seen in e-tailers from other continents. In its first year Tyrepac generated less than half of this, reporting a turnover of 2.5 million ringgits (£500,000; 400,000 euros).

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  1. Pneus Online Reports 40% Sales Increase Due to UK Online Tyre Purchase Habit
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  3. Easy Tyre and Autocentres introduces mobile fitting
  4. Tyrepac takes Nokian tyres to Singapore market

European Metal Recycling Chooses Bandvulc and Fulda

European Metal Recycling Ltd (EMR), a global leader in recycled metal products and environmental services, has selected Bandvulc and Fulda tyres as policy fitment for its southern UK based fleet operations. Adam Wilkes, Transport Manager for EMR‘s Southern Region commented: “We have run extensive tests and trials with a variety of tyre brands at a selection of our operating centres and found the Bandvulc package to be the most cost effective solution for our business both in regards to up front costs and final PPK rates. We believe in simplicity so chose not to run casing banks or value management of assets. The Bandvulc offer was straightforward and uncomplicated and hence, more attractive”.

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  1. What Does Future Hold for Truck Tyre Retreading?
  2. TAFF Awards 2010: Environment Award
  3. TAFF Awards 2011 Preview: Environment Award
  4. TAFF Awards 2012: Environment Award nominations

Indian Tyre Manufacturer Shares Rise alongside Price Hikes

India’s major tyre manufacturers have seen their shares jump up to 4.9 per cent in value today amidst reports of price hikes across the four biggest domestic names. Bloomberg UTV reports that Apollo Tyres (up 4.9 per cent), CEAT (2.54), JK Tyre (2.32) and MRF (1.61) all saw their stock rise in value, following reports that CEAT is raising its prices by between two and five per cent, while Apollo and JK Tyre are to make a decision later on the size of their price increases.

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  1. Lower rubber prices push up Indian tyre shares
  2. Indian Manufacturers Announce Price Increases
  3. Sonil Ventilfabrik Hosts 27th ITTAC Meeting
  4. Indian tyre dealer federation protests cartel decision

Alcoa Supplies Forged Wheels Aston Martin V12 Vantage

Alcoa Auto Wheels has announced that the company is supplying forged aluminium wheel for the V12 Vantage – billed by Aston Martin as its most exhilarating sports car. "The forging technology behind these wheels enables significant weight savings directly benefiting handling performance, ride quality, acceleration and braking,” explained David Yates, marketing manager for Alcoa Europe, adding: “Our forging process results in a superior metal structure that also improves strength and durability, allowing finer wheel detailing and lighter weight.”

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  1. Alcoa Invests in Adaptable OE Wheel Forging Technology
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  4. Alcoa Wheels Selected for Lightweight Lamborghini

European Zeetex Dealers Visits Thailand with S&H Tyres

European dealers of Zeetex brand automotive parts have returned from an all-inclusive trip to Thailand organised by Simon Klapwijk on behalf of S&H Tyres, on which the group visited the factory that produces Zeetex batteries and spent a day at the test track, sampling the new Zeetex HP102 tyre. During a welcome dinner, Klapwijk explained the marketing concept and the expansion of the size range for 2010 in both passenger car and truck and bus segments, opening the European Zeetex Convention 2010.

Related news:

  1. Low Demand For Cars In Thailand Boosts B-Quik
  2. National Opened 6 Branches in 2009, Next Opening: January 2010
  3. First Stop Dealers Rewarded for Customer Service in 2009
  4. HiQ Presents Strong Turnover Growth in 2010 Year to Date
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US Michelin Adverts Challenged by Bridgestone – Again

Tire Review reports that, while finding no fault, the National Advertising Division of the Council of Better Business Bureaus has asked Michelin North America to “modify or discontinue, among other claims, certain advertising claims for the Hydro-Edge tyre.” The move comes in response to a complaint filed by Bridgestone Americas challenging certain claims made by Michelin in its advertisements.

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Related news:

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Bridgestone Sues over Trademark Infringement

Bridgestone Americas has reportedly filed trademark infringement suit against Commerce Max Inc., a Texas company selling “Amberstone” brand medium truck and OTR tyres, reports Tire Review. Based in Pflugerville, Texas, Commerce Max, according to its website, sells a wide range of tyre brands, including Michelin, Bridgestone, Goodyear, Yokohama, General and Firestone. The Amberstone brand tyres it offers are produced in China by an unnamed manufacturer.

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Bike Tyre Safety Month Campaign Materials Now Available

TyreSafe has made Bike Tyre Safety Month campaign materials freely available to motorcycle dealers, tyre retailers, specialist repairers and motorcycle accessory shops, enabling them to participate in April’s awareness-raising campaign. Bike Tyre Safety Month aims to highlight the importance of correct tyre care and maintenance at this critical time in the motorcycling season.

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  1. SEAT On Board For Tyre Safety Month
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  4. TyreSafe emphasises need for adequate tread depth in wet
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Rösler: Kazakhstan Retreading Plant Now Fully Operational

In 2008 Dortmund, Germany-based Rösler Group finalized a deal with one of the world’s largest copper mining companies, Kazakhmys to install a turnkey retreading facility for Kazakhmys’ underground and open pit operations in Kazakhstan. 18 months later Rösler and Kazakhmys have announced that that they have completed construction of the new retreading facility in Zhezkazgan, near Kazakhmys’ operations. The plant has reportedly been in full production since December last year, retreading tyres in 25 inch to 33.00R51 sizes, with the option for 57-inch products. In order to secure quality, Rösler keeps a team of three retreading specialists based in Kazakhstan on a continuous basis to supervise production.Tyres retreaded in the Zhezkazgan facility are now in operation in copper mines.

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  1. New owner for insolvent Reifen Ihle’s retreading operation
  2. End of the line for Respa
  3. Vipal gives “reusing raw materials” presentation at Rubber Conference 2015
  4. Hankook is transforming itself into a system provider with the help of Reifen Müller

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