Doublestar suffers huge losses
At the end of January, three Chinese tyre companies released their 2022 performance forecasts, which show that Aeolus and Linglong are in profit, but reveal huge losses at Doublestar.
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Customs fines Hankook Jiangsu factory again
On 13 January, Huai’an Customs issued an administrative penalty decision to Jiangsu Hankook Tire Co., Ltd. The subject of the penalty involved 271,000 yuan (approximately £32,500, €36,900) in tax underpayment. The penalty document issued by Huai’an Customs shows that Jiangsu Hankook failed to truthfully declare the price of bonded materials during the process of declaring to the customs.
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Schrader adds to OER TPMS line
Schrader TPMS Solutions is proud that more than 50 per cent of vehicles fitted with TPMS worldwide are equipped with Shrader-supplied units. Furthermore, the TPMS specialist emphasises that its “genuine OE replacement sensors are guaranteed to meet OE quality and performance standards.”
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New Ram 1200 tested on Nokian Tyres
Americas Ram 1200 was recently caught undergoing winter testing in Northern Sweden by CarBuzz spy photographers. The website pointed out that the latest edition of the pickup, which is slated for a 2024 introduction, was caught testing with other Stellantis brand vehicles, such as the Fiat Toro. However, the eagle-eyed will have noted that it was shod with Nokian Tyres.
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Hankook tyres for new US race series
Master Class of Racing (MCoR) is a new and – according to its promoter – “industry-changing” race series in the USA. The stated main goal of MCoR is to “offer sprint racing and a fantastic short format endurance racing at a cost that makes sense for teams and more critically, the drivers.” All of these drivers will compete on Hankook tyres.
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Chinese truck tyres: EEC closes dumping loophole
Russia and its friends within the Eurasian Economic Union (EAEU) will soon extend the scope of anti-dumping duties applied to truck tyres from China to counter instances of duty avoidance. The EAEU’s Eurasian Economic Commission (EEC) issued an announcement to this effect on 1 February 2023.
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Heuver expands leadership team
As of today, Laura van den Heuvel and Kasper Olimulder take over day-to-day operations at tyre wholesaler Heuver. The Hardenberg, Netherlands-based business has appointed van den Heuvel its Director Sales and Olimulder Director Operations. Both report to Heuver Group CEO Bertus Heuver and CFO Elmer Wiemer.
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Hankook Tire: Record sales in 2022
Announcing its 2022 financial results, Hankook Tire & Technology (Hankook Tire) shares that its consolidated global sales reached an “all time high” last year. Sales increased 17.5% to KRW 8,394.2 billion (£5.6 billion, $6.9 billion). Operating profit rose 9.9% YoY, to KRW 705.7 billion (£468.2 million, $576.7 million).
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Continental restructuring ContiTech business
Continental is “strategically realigning” its non-tyre ContiTech business to lay the groundwork for its “transition from a traditional product supplier to a provider of integrated solutions.” ContiTech will expand its industrial business while consolidating the automotive business, and will gain a CTO who will “drive the expansion of its materials expertise.” The changes take effect early May 2023.
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ContiCasingAccount kicks off
Continental has designed a new service for European truck tyre dealers – the ContiCasingAccount. In short, the system enables dealers to deposit used casings into an account and receive a credit for them. According to the company, the new service has already been successfully tested by 28 dealers in Germany. The program will be now rolled out to all interested European tyre dealers. However, Tyres & Accessories understands that the service won’t operate in the UK where a different system is in place.
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Prinx presents European line-up on new website
During last year’s The Tire Cologne show, Prinx Chengshan shared plans to bring its Prinx brand to Europe as a flagship range. It is now doing so, accompanied by a new site for the region: prinxtire.eu.
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Sports touring performance for lightweight bikes: Dunlop Sportmax Q-Lite
This year Dunlop is launching a new sports touring tyre, the Sportmax Q-Lite. It says this tyre “combines hypersport-style performance with a high-mileage tread and improved handling,” a mix that makes Dunlop Sportmax Q-Lite suitable to “tackle the demands of daily riding on lightweight bikes” such as the 125cc and 250cc categories.
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Bridgestone gains SBT Certification for CO2 targets
Bridgestone has received Science Based Targets (SBT) certification from SBT initiative (SBTi) for its CO2 emissions reduction targets for 2030, which form part of the company’s Sustainability Business Framework that “ensures the link between sustainability activities and business for contributing to carbon neutrality and a circular economy across the entire value chain”. These efforts align with the “Bridgestone E8 Commitment” which is designed to accelerate transformation to a sustainable solutions company.
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Prometeon extends WorldSBK engagement with Yamaha team sponsorship
It may not produce motorcycle tyres, but Prometeon Tyre Group benefits from the exposure the Pirelli brand gains as top sponsor and tyre supplier to WorldSBK. Prometeon also took on WorldSBK official sponsorship in April 2022 and now seeks to further raise its profile amongst those who enjoy riding fast on two wheels by becoming co-title sponsor of the Yamaha WorldSBK team.
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Apprenticeship numbers too low – IMI
Ahead of National Apprenticeship Week (6-12 February 2023), the Institute of the Motor Industry (IMI) is calling for businesses to embrace apprenticeships and all the benefits they bring. Funding is available through the UK government’s apprenticeship levy scheme, yet the latest data in the IMI’s Automotive Education Report suggests this is underutilised in the automotive sector, meaning many businesses are missing out. Elsewhere, leading garage chains have been sounding the alarm that their growth and profitability depend on getting more personnel.
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