
Bridgestone Q3 2023 financial results
Bridgestone Corporation announced its financial results for the third quarter of 2023 earlier today, reporting year-to-date consolidated revenue of 3,198.1 billion yen (£17.26 billion, US$21.17 billion), a seven per cent year-on-year increase. Operating profit rose six per cent year-on-year in the first nine months of 2023, to 362.3 million yen (£1.76 billion, $2.16 billion). The operating profit margin declined 20bps, to 11.3 per cent.
Continue Reading
Kumho Tire – 3 years of “continuous operating losses”
On 7 November, the Shanghai Stock Exchange published the 2023 credit rating report for Qingdao City Construction Investment (Group) Co Ltd. (Qingdao City Investment), the holding company of Qingdao Doublestar and Kumho Tire. Our sister publication Tyrepresschina.com has shared some of the key details contained within the report, which is dated June 2023.
Continue Reading
Sentury Tire: 1 million OE tyres & increased aviation business
During an earnings presentation held on 8 November, China’s Sentury Tire shared its expectation of selling more than one million original equipment tyres in 2023. The company added that it is focusing on “mid- to high-end” OEMs.
Continue Reading
Goodyear Farm Tires returns to Poland
Polish tyre wholesaler Latex and its subsidiary Hurtopony have taken on distribution of the Goodyear Farm Tire range. The four main centres in Ruda Slaska, Opole, Bydgoszcz and Sosnowiec will supply tyres to the Latex national network.
Continue Reading
Agritechnica debut for new Goodyear products
Goodyear Farm Tires will unveil a new product and display its exclusive Low Sidewall range when it heads to Germany for Agritechnica next week. During the show, Goodyear Farm Tires will unveil its new LW Waffle Wheel, which is adjustable to up to eight different track positions (depending on crop row widths) and allows tyres to seat correctly at lower pressures, improving safety.
Continue Reading
Gerd Bartels leading Continental’s Specialty Tires business
As of 1 November 2023, Gerd Bartels takes over responsibility for Continental’s Specialty Tires business area. He succeeds Wolfgang Thomale, who Continental recently appointed head of the Surface Solutions business area within its ContiTech group sector.
Continue Reading
ChatGPT helping Hankook Tire to gain EV insights
Why survey people when you can draw upon all the wisdom of the internet? Hankook Tire & Technology has turned to artificial intelligence to gain insights into consumer attitudes towards electric vehicles, developing a Voice of Customer (VOC) analysis system based upon ChatGPT for this purpose. The Korean firm collaborated with data cloud computing companies Amazon Web Services and Snowflake to build an integrated VOC data analysis system.
Continue Reading
Bridgestone debuts algorithm-based mining solution
Bridgestone Corporation has introduced a new mining solution service that uses a proprietary, Bridgestone-developed algorithm to estimate tyre durability. It first introduced this offering in July 2023 to the BHP Group’s Spence copper mine (Pampa Norte operation) in Chile, which also uses the service to propose the optimal timing for tyre timing as well as driving routes for the mine.
Continue Reading
Anlas debuts new products at EICMA
Several new Anlas tyres have arrived and are currently enjoying their public debut at the EICMA show in Milan. These are the Anlas Capra RD 2 and Tournée 2. The new arrivals share stand space with the 2022-launched Anlas Capra XR and numerous other products.
Continue Reading
Battery-electric Tevva truck set to drive skills at Mira Technology Institute
Students and apprentices at the MIRA Technology Institute (MTI) have welcomed the delivery of a brand-new electric truck to help them get to grips with the latest electric vehicle technology. The 7.5 tonne Tevva battery electric truck is based at the MTI’s state-of-the-art workshops and will be instantly accessible for every student enabling them to see how the technology works in practice.
Continue Reading
UK new van market continues to grow
Britain’s new light commercial vehicle (LCV) registrations increased by 17.7 per cent in October with 26,342 of the very latest vans, pickups and 4x4s joining Britain’s fleets, according to the latest figures published by the Society of Motor Manufacturers and Traders (SMMT). The growth is some 3.8 per cent above pre-pandemic 2019 levels and rounds off 10 consecutive months of rising demand this year, totalling 284,321 units. This is the highest volume for two years as the easing of supply chain disruptions means that more operators can more readily renew their fleets.
Continue Reading
New car sales growth continues in October – SMMT revises annual outlook upwards
October’s new car market grew by 14.3 per cent to reach 153,529 registrations, 7.2 per cent above pre-pandemic levels and marking the best performance for the month since 2018, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT). The 15th month of consecutive growth was driven almost entirely by large fleet registrations, which grew 28.8 per cent to reach 87,479 units. Private demand was stable at 62,915 vehicles, a 0.3 per cent increase, while the much smaller business sector saw registrations fall -15.2 per cent to 3,135 units. With the sustained increase in new car registrations, overall vehicle uptake is now up 19.6 per cent in the first 10 months, with the market currently enjoying its best year since 2019.
Continue Reading
In’n’Out Autocentres aiming to raise £5000 for charity
In’n’Out Autocentres CEO, Jon Morgan is aiming to raise £5000 for Northampton Hope Centre by cycling across France and Belgium as part of the Ride for Hope 2023 event.
Continue Reading
Germany’s SD Reifen in liquidation
Tyre distributor SD Reifen GmbH recently went into liquidation, which means its business activities will officially end in autumn 2024. Bernd Schwarz, company shareholder and managing director of the German firm since its founding almost eight years ago, has been appointed to the role of liquidator.
Continue Reading
Continental lifts Tires EBIT margin for 2023
Continental has published its financial results for the three months to 30 September with the comment that Q3 2023 concluded “in line with expectations.” For the Tires group sector, the expectation was thus lower sales but an improved earnings position.
Continue Reading