Slight Rise In Turnover For Goodyear In Third Quarter
Goodyear Tire & Rubber has announced worldwide sales in the 3rd quarter of $3.7 bn (Q3 2000 = $3.6 bn). Net income for the same period was $9.3 million, compared to $17 m for Q3 last year. For the first nine months of the year, the company posted a net loss of $29.6 m, compared to net income of $142.3 m for the equivalent period in 2000. Sam Gibara spoke of a general economic slowdown and tough market conditions in many regions. However, one plus point for the company was a market share gain of 3 per cent in the US replacement tyre market.
Continue ReadingConsumers Association Condemns Fast Fits
A report in the magazine Which? – published by the UK Consumers Association (CA) – has accused fast-fits of recommending unnecessary work in almost a quarter of cases. The CA took a test car to 93 depots, belonging to seven of the UKs largest fast-fit chains, and says that 23, split across all seven chains, recommended unnecessary work. In response, one of the companies involved – Kwik-Fit – says that it has not been given detailed information by the CA but, on behalf of all the companies involved, it takes exception to the implication that so many in the trade would intentionally mislead the customer.
Continue ReadingNew Car Fleet Service From Stapleton’s
In the UK, wholesaler Stapletons Tyre Services has announced that it is to invest two million Pounds in an internet-linked network of service outlets, called Tyreserve, aimed at the car fleet market. Stapletons retail division (50 outlets) will be the first member and Tyreserve will begin trading next April. The new move has the full backing of Itochu, Stapletons parent company.
Continue ReadingSignificant New Price Increases Expected In USA
In talks with dealers, MAST (Michelin America Small Tires) mentioned the possibility of new price increases, which could be up to 6 per cent, within the next few months. The Michelin brand is expected to attract most of the drivers who previously chose Firestone.
Continue ReadingDetroit Motor Show: Concerns About The Economic Situation In The USA
Almost all car manufacturers are offering new SUV models. While sales figures for December last year fell dramatically for the big three, the European, Japanese and Korean producers were very successful. Analysts are worried because they expect a price war in the till-now-profitable SUV segment, caused by growing over-capacity. Products from Chrysler especially, but also from GM to some extent, are under growing pressure. So far, the big three have cut back production in order to avoid a costly incentive programme. During press conferences in Detroit, high ranking managers were unable to dispel these concerns and thus analysts do not recommend GM and DaimlerChrysler shares as a buy; in fact, quite the contrary.
Continue ReadingIreland To Get Kwik-Fit Mobile Service
Kwik-Fit Fleet is to launch its mobile tyre fitting service in Ireland, servicing mainly business car users at their offices or homes. Kwik-Fit currently has 37 service points in Ireland, with plans to expand. When it comes to mobile service units, the group has 538 vehicles operating in Europe.
Continue ReadingBoom In Alloy Wheel Original Equipment
Car makers in a lot of markets grieve over significant reductions in new car registrations. One should not forget that, for most suppliers, from whom parts are needed for the production of cars, the consequences are negative also. But not for manufacturers of light alloy wheels: a flood of special car editions and generally growing fitment rates – in comparison with steel wheels – means that the European aluminium wheel manufacturers are selling all that they can produce. New facilities are even having to be built. The aluminium wheel in original equipment changes from a part which raises the value of a car to standard fitment, even for middle class vehicles. In spite of these favourable conditions, the sector is under pressure. The middle-class structured alloy wheel manufacturers cannot resist the downward trend of prices, caused by the car manufacturers. This is especially so because the purchase of this product happens more and more on a global scale. Besides this, the number of possible oe suppliers of cast aluminium wheels is still enormous. A process of consolidation (as in other segments supplying oe) has not happened, until now.
Continue ReadingTyrexpo Europe Review
This years Tyrexpo show was held only a matter of weeks before a rival exhibition, being run alongside an already-successful aftermarket exhibition. It would be naïve to believe that the existence of two shows so close together has had anything but an adverse effect on both events, and the fear was that the tyre industry would be the loser if we had two bad shows. The total number of visitors to Tyrexpo Europe was a disappointment, but many of the exhibitors expressed themselves satisfied with the quality of visitors. Opinions were polarised – some were happy, others not, some said that the UK needs a dedicated tyre show, others were not so sure. One thing on which all were agreed is that we cannot afford the same two-exhibition situation in two years time. Our review covers exhibitors reactions – warts and all.
Continue ReadingWilliams-BMW Successful Because Of Michelin Tyres
Formula 1 Champion Michael Schumacher believes that the secret of the Williams-BMW team lies in the Michelin tyres. Michelin seems to have done a good job so that Williams-BMW has become competitive, the Ferrari driver told La Gazzetta dello Sport, during team testing in Mugello. I would have thought that Bridgestones advantage would have lasted longer, said the German, who has Bridgestone tyres on his Ferrari, whereas brother Ralf uses Michelin tyres on the Williams-BMW.
Continue ReadingExpansion Of Production For Goodyear, Michelin
In the wake of the Firestone recall, Michelin says it has tripled tyre production in the USA as well as shipping thousands of tyres from Europe. A special customer service centre is handling 8,000 calls a day. Goodyear plans to provide more than half of the tyres replaced because of the recall and has increased production of Ford-approved tyres tenfold. The company has increased shipments to 9,000 outlets, including company-owned stores, independent tyre retailers and Ford dealers.
Continue ReadingNew Danish point S Members
Danish group Dek Ringen, with 31 members and 35 outlets, has joined the European point S network. The cooperation already had 700 outlets in France, Germany, Italy, Belgium and The Netherlands. The European Tyre Coordination Committee (ETC) coordinates all activities of point S members across Europe.
Continue ReadingSUVs Come Under Fire In The USA
It is not only the Ford Explorer that might show a tendency to rollover in critical situations; the US Consumer Report has revealed through its own tests that the Mitsubishi Mondero (known in Europe as the Pajero) shows a tendency to lift two wheels in critical situations. That, according to the magazine, is not acceptable and is a safety problem. Mitsubishi denies that there is any safety problem at all.
Continue ReadingQuarterly Dividend From Goodyear
Directors of The Goodyear Tire & Rubber Company have declared a quarterly dividend of 30 cents a share. The dividend is payable September 17, to shareholders of record August 17. The payout represents an annual rate of $1.20 per share.
Continue ReadingTyre Monitoring Proposals Made
The US National Highway Traffic Safety Administration has proposed new federal standards for the installation of tyre pressure monitoring systems in passenger cars, light trucks and SUVs. The first option requires that the driver be warned when the pressure in one or more tyres, up to a total of four, has fallen to 20% or more below the recommended cold inflation pressure, or a minimum pressure specified in the new standards. The second option is that the warning is given when the pressure in one or more tyres, up to a total of three, falls below 25% of the recommended cold inflation pressure, or a minimum pressure specified in the new standards. These US recommendations are bound to give impetus to the marketing and development of tyre pressure monitoring systems throughout the market.
Continue ReadingMcLaren Considering Changing Tyres
Although happy with the performance of Bridgestone tyres, McLaren are said to be considering switching to Michelin next season. The Michelins have performed well for competing team Williams, but are said to need further development. McLaren feel that any improvement in performance from the Michelins could put them at an advantage against arch-rivals Ferrari.
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