Halfords shares plummet after consumer tyre-related profit warning, but Autocentres remain ‘bright spot’
Halfords Group’s share price fell by around a quarter in response to an unexpected profit warning notice on 28 February, which suggested Halfords would make substantially less profit than the firm forecast roughly a month earlier. At least part of the reason for the profit warning was softening demand in the consumer tyre sector. Halfords stock recovered slightly in early trading on the morning of 29 February, however the five-day chart shows that the company’s share price remains around a quarter down.
Continue ReadingHalfords issues surprise consumer tyre-related profit warning
After years of strong and often tyre-driven profit growth, Halfords Group plc has warned investors that “further material weakening” in “cycling, retail motoring and consumer tyres” will result in “a significant drop in like-for-like revenue growth”. As a result, that specifically means £13 million less “underlying profit before tax (PBT)”, than previously stated or PBT “in the range of £35-40 million”.
Continue ReadingLKQ Euro Car Parts headline sponsor for Automechanika Garage Awards 2024
Aftermarket motor parts group LKQ Euro Car Parts will return for the second consecutive year as headline sponsor of the Automechanika Birmingham Garage Awards 2024, hosted by the Independent Automotive Aftermarket Federation (IAAF). Celebrating the country’s best automotive technicians, the awards will be presented on Wednesday, 5 June at the UK Garage and Bodyshop Event at NEC, Birmingham. The second awards will feature an expanded number of award categories, going from eight in 2023 to 10. They demonstrate commitment and dedication in the garage sector to ensuring affordable mobility in the UK over the past few years. The awards are accepting nominations until the closing date on 29 March here.
Continue ReadingBridgestone renews e-jobsheet agreement with MobileITApps
After more than 10 years of business collaboration, MobileITApps has renewed its agreement with Bridgestone Europe, enabling full connectivity between the FleetBridge system into the e-jobsheet all-purpose tyre service app powered by the TiDaeX platform, including plans for RFID integration. The agreement covers 31 European countries.
Continue ReadingJoint networking event to celebrate International Women’s Day, encourage more diverse industry
Automechanika Birmingham and Women Automotive Network will jointly host a free in-person networking drinks reception on Thursday 7 March. The event welcomes all automotive professionals and targets the creation of a support network for women in the industry. The event recognises the need to plug the current skills shortage, showcasing a progressive industry. Forecasts suggest that there will be a significant shortfall in the skills needed to service an evolving car parc, particularly technicians qualified to work safely and competently on electric vehicles. Women remain underrepresented in the sector, with around 19 per cent of roles in the automotive supply chain filled by female workers.
Continue ReadingGoodyear sells Cooper Avon assets to Nova, leases Avon motorsport tyre brand
Goodyear executives have confirmed that Turbalvoroco Unipessoal LDA, trading as Nova Motorsport (Nova), will buy “certain assets used in the manufacturing and sale of” Avon-branded motorsport tyres. Nova has also acquired “the brand license, traditionally used in the manufacturing and sale of certain motorsport tyres under the names ‘Avon Motorsport’ and ‘Avon Racing’”. Tyres & Accessories understands that Nova plans to continue the production of some of the Avon Motorsport product range independently from Goodyear.
Continue ReadingInfopro Digital buys DriveRightData
DriveRightData’s acquisition by Infopro Digital aligns with the company’s “commitment to quality, accuracy and innovation” and the two firms’ integration “will cultivate synergies across both global product portfolio” DriveRightData representatives said in a statement announcing the news on 23 February 2024.
Continue ReadingCompilator agrees TiDaeX integration with e-jobsheet
Compilator AB, part of UK-based Kerridge Commercial Systems Limited, is partnering with Mobile IT Apps to deliver TiDaeX integration via the e-jobsheet tyre service app for the UK and the Republic of Ireland. The move comes in anticipation of its planned expansion into Scandinavia and North America. The integrated partnership will be formally introduced at the ITIA conference in Dublin on 29 February 2024.
Continue ReadingGoodyear partners with TyreCall in Ireland
Goodyear has appointed TyreCall as “a Full Service Distribution (FSD) partner” in the Republic of Ireland and Northern Ireland. According to Goodyear, the strategic partnership will help Goodyear “manage stock, simplify the sales process, and improve the service offered to retailers. “
Continue ReadingStone Tyres installs TreadReader tyre scanner
Stone Tyres is using a TreadReader DriveOver tyre measurement system which is “driving up sales and ensuring maximum safety and value for its customers”, according to the company.
Continue Reading‘Petrol retailers remain competitive amidst rising costs and declining sales’ – PRA
“Petrol and diesel prices remain volatile as retailers strive to remain competitive amidst rising costs and declining fuel sales,“ said Gordon Balmer, executive director of the Petrol Retailers Association (PRA), commenting on the RAC’s monthly report of UK fuel prices.
Continue ReadingNFDA calls for EV price incentives in spring budget after EU car market returns to growth
January saw a return to growth in new passenger car registrations, according to the latest European Automobile Manufacturers Association (ACEA) figures. These followed a -3.3 per cent contraction in December. New car registrations in the EU witnessed an increase of 12.1 per cent year-on-year, reaching 851,690 units for January 2024. “It is positive to see a return to growth in the EU car market following the contraction experienced in December 2023, particularly with January traditionally being a slower month” said Sue Robinson, chief executive of the National Franchised Dealers Association (NFDA), commenting on the figures.
Continue ReadingAAG to distribute UniClutch brand
Clutch Industries has reached an agreement with parts distributor Alliance Automotive Group (AAG) to distribute the UniClutch™ brand in the UK, Ireland, Germany, Netherlands, Belgium, Poland, France and Spain, set to revolutionise the upgrade clutch market for motor factors, installers, and end users alike.
Continue ReadingTRA addresses India waste tyre figures with call for export rethink
The Tyre Recovery Association (TRA) supports steps India is taking towards stricter waste tyre import rules. In light of the UK’s status as one of the primary exporters of end-of-life tyres to India, TRA secretary general, Peter Taylor OBE, has called for the government to “finally act to update the out of date and failing UK regulatory framework.”
Continue ReadingHave you got the stamina? asks BEN
Automotive charity BEN has launched the next challenge in its Benathlon series. “Throughout March, were challenging our automotive family to complete 100 miles and raise £100 for Ben! Are you up to the challenge?” The charity is challenging auto industry workers to lend their support by signing up to the ongoing exercise-based challenge.
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